The U.S. Economic Development Administration approved a $1.3 million grant to Greenville, Texas, to improve the roadway infrastructure needed for the expansion of the region's aerospace sector.
The grant will be matched with $1.3 million in local funds and is estimated to create 400 jobs, generate $40 million in private investment and construct a new roadway alignment for the existing Majors Road at Greenville Municipal Airport, according toa March 23 EDA news release.
“President Biden is committed to supporting our communities and regions as they work to improve their economies," U.S. Secretary of Commerce Gina Raimondo said in the release. "This EDA investment will provide the infrastructure needed to support Greenville’s growing aerospace sector to create new economic opportunity and jobs in the region.”
Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo applauded the initiative, the release reported.
“We commend the city of Greenville for working to support the growth of aerospace businesses; a critical economic driver for the region," Castillo said in the release. "The improved roadway will support business expansion, growing the regional economy and creating hundreds of good-paying jobs.”
Texas Gov. Greg Abbott praised the grant as well, according to the release.
“Texas has been a national leader in aerospace for decades, and this grant to the city of Greenville will help keep our state at the helm of this critical industry," Abbott said in the release. "Roadway improvements are vital to the success of growing communities, and I thank the Economic Development Administration for this investment which will bring hundreds of jobs and decades of economic opportunity to North Texas.”
The mission of the EDA is "to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy," the news release said.
It is an agency within the U.S. Department of Commerce which "invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation and accelerate long-term sustainable economic growth," according to the news release.
