U.S. Dept backs American Rescue Plan Funds

U.S. Secretary of Commerce Gina M. Raimondo has announced that the city of Reedsburg, Wisconsin, will receive a $3.7 million grant from the Department’s Economic Development Administration (EDA) to create the road, sewage, and stormwater infrastructure required to expand the Reedsburg Business Park.

The $300 million Coal Communities Commitment of EDA and the American Rescue Plan together provide funding for this project. This fund will give enterprises in a region affected by the decline in coal use the infrastructure they need to start up, move, or develop.

According to grantee projections, the EDA investment is estimated to yield $22 million in private investment, 300 new employment, 100 existing jobs, and a match of $1.2 million in municipal money.

This project is supported by EDA’s American Rescue Plan Economic Adjustment Assistance programme, which offers American towns subsidies totalling $500 million for economic adjustment.

The Economic Adjustment Assistance programme is EDA’s most adaptable programme, and grants provided through it will assist hundreds of communities across the country in developing creative solutions to local problems and re-engaging people in the workforce through construction or non-construction projects.