The U.S. Department of Commerce announced the investment of $1.2 million for water infrastructure improvements in an effort to support business growth and generate jobs in Jasper, Ind.
These grant funds will support the construction of a new backup water supply connection to assist local businesses, according to an April 4 Economic Development Administration news release. This will help expand operations with the area's wood products manufacturing cluster, which is vital to the economy.
“President Biden is making sure our communities have the resources they need to grow their local economies," U.S. Secretary of Commerce Gina Raimondo said in the release. "This EDA investment in Jasper’s infrastructure will support local business growth, create jobs and improve economic resilience in Jasper, all while building on the city’s long-established history as a wood manufacturing city."
This investment of EDA funds will be matched with $1.2 million in local funds, according to the release. This investment is expected to create 225 jobs, retain 560 funds and generate $34 million in private investment.
“The Economic Development Administration is pleased to support local efforts to create new economic opportunities and jobs," Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo said in the release. "This project will provide businesses in Jasper with the reliable water service they need to grow and thrive."
The EDA works to "lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy," according to the news release. The agency invests in U.S. communities and works to support regional collaboration in an effort to create jobs for U.S. workers, promote innovation and accelerate long-term sustainable economic growth.
The EDA website reports the agency awarded 62 grants grants from February to March 2023. These grants include approximately $17.3 million, and grantee estimates report approximately 1,778 jobs saved or created.
