THIS IS AN MBO REWRITE
Elizabethtown, North Carolina, has been awarded a $690,604 grant by the U.S. Department of Commerce's Economic Development Administration (EDA) to fund infrastructure improvements in an effort to boost business growth and job opportunities. The grant will support the expansion of the Elizabethtown Industrial Park and the development of a new Live-Work-Play campus.
The area of Elizabethtown has been impacted by changes in the energy industry, and this grant will play a crucial role in revitalizing the local economy. The EDA contribution is expected to attract an additional $364,896 in municipal funding, create 50 jobs, and stimulate $2.3 million in private investment.
Alejandra Y. Castillo, assistant secretary of commerce for economic development, expressed enthusiasm about the collaboration between the EDA and Elizabethtown, stating, "The Economic Development Administration is thrilled to cooperate with Elizabethtown in its place-based approach to delivering new job opportunities to the region. The creation of necessary, in-demand jobs will be aided by this EDA award, which will also make quality childcare and healthcare services available."
Governor Roy Cooper also expressed gratitude for the federal investment in the state's infrastructure, acknowledging the positive impact it will have on local economies. He said, "We are appreciative to our federal partners for their ongoing investments in the infrastructure of our state. This grant will strengthen local economies and give the Elizabethtown neighborhood well-paying jobs."
The Southeastern Economic Development Commission's (SEDC) regional planning initiatives have played a crucial role in making this project possible. The SEDC receives funding from the EDA to bring together the public and private sectors to develop strategies for economic development, encourage private capital investment, and generate job opportunities.
The funding for this project was provided through the Assistance to Coal Towns (ACC) initiative. The ACC initiative awards competitive grants to towns that have been negatively affected by the decline in the coal industry. These grants aim to promote workforce development, capital investment, economic diversification, job creation, and reemployment prospects.
With the support of the U.S. Department of Commerce, Elizabethtown, North Carolina, is well-positioned to enhance its infrastructure and create a thriving business environment that will benefit the local community and attract further investment.
