U.S. Department of Commerce Invests $3 Million to Support Business Attraction and Expansion Efforts in Southern Indiana





U.S. Department of Commerce Invests $3 Million to Support Business Attraction and Expansion Efforts in Southern Indiana






WASHINGTON — Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is providing a $3 million grant to the River Ridge Development Authority, Jeffersonville, Indiana, to connect two new water storage reservoirs at the Five Counties River. Ridge development area.


This grant will provide additional reliable water capacity for the River Ridge Development Park, supporting the expansion of existing businesses and attracting other businesses, including manufacturers, to the area. The EDA investment will be matched by $4.2 million in local funds and is expected to create 1,000 jobs and generate $100 million in private investment, according to recipient estimates.


“The Biden-Harris administration is committed to investing in critical infrastructure needs to drive economic growth in communities across the country,” Commerce Secretary Gina Raimondo said. “This EDA investment in the River Ridge Development Area will strengthen southern Indiana businesses, attract new private investment, and boost America’s global competitiveness.”


“The Economic Development Administration plays an important role in supporting locally developed strategies designed to create economic opportunity,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “EDA is proud to partner with the River Ridge Development Authority as it makes strides to strengthen and diversify its regional economy.”







About the United States Economic Development Administration (www.eda.gov)
The mission of the United States Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing regions across the country for growth and success in the global economy. An agency of the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration to create jobs for American workers, promote American innovation, and accelerate long-term sustainable economic growth.






Keith P. Plain