The US Department of Commerce is investing $3.7 million in US bailout funds to help expand Reedsburg, Wisconsin business park
The award is part of the Department of Commerce’s $300 million commitment to coal communities
Contact: FDFA Public Affairs Division, (202) 482-4085
June 21, 2022
WASHINGTON – Today, US Secretary of Commerce Gina M. Raimondo announced that the Department of Economic Development (EDA) of the City of Reedsburg, Wisconsin, has awarded a $3.7 million grant to build roads, sewage and stormwater infrastructure granted necessary to expand Reedsburg Business Park. This grant is funded by the American Rescue Plan and the EDA’s $300 million Coal Communities Commitment.
This grant will provide the necessary infrastructure for businesses to locate, relocate or expand in a region impacted by declining coal use. The EDA investment will be matched with $1.2 million in local funding and is expected to create 300 jobs, sustain 100 jobs and generate $22 million in private investment, according to the grantee’s estimates.
“President Biden’s American bailout plan provides direct assistance to the American communities as they work to build a better America for the future,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will provide the critical infrastructure needed to support business expansion, attract investment and create a stronger, more resilient regional economy.”
“The Economic Development Administration is pleased to support locally driven strategies to advance efforts to revitalize Wisconsin’s businesses,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “Expanding business opportunities in Reedsburg will create new opportunities as the community works to diversify its economy and build the region’s resilience for decades to come.”
“We know that investing in our small and local businesses and local infrastructure is an essential part of building strong communities in every corner of our state,” said Governor Tony Evers. “I’m proud that Wisconsin ranks highest among states nationally when it comes to allocating our federal aid to economic development and business support, and this $3.7 million investment will help us continue these efforts by supporting the necessary infrastructure and creating 300 new jobs for the Reedsburg Municipality.”
“I voted for the American Rescue Plan because it supports our Made in Wisconsin economy and helps move our state forward,” said Senator Tammy Baldwin. “This federal investment from the Biden administration will help build road, sewer and stormwater infrastructure to expand Reedsburg Business Park and spur economic development, create new jobs and strengthen the region’s economy.”
“The American bailout plan has been a lifeline for communities like Reedsburg,” said Congressman Mark Pocan (WI-02). “This important grant from the Reedsburg Economic Development Agency will help create good-paying jobs and revitalize the economy. Thank you to Secretary of State Raimondo and Deputy Secretary of State Castillo for this scholarship.”
This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance program, which provides $500 million in Economic Adjustment Assistance grants to American communities. The Economic Adjustment Support Program is EDA’s most flexible program, and grants awarded under this program will help hundreds of communities across the country through construction or non-construction projects tailored to local needs, design, build, to innovate and get people back to work.
EDA’s Coal Communities Commitment provides $300 million of EDA’s $3 billion American Rescue Plan funding to help coal communities recover from the pandemic and help them find new jobs and opportunities to create, including through the creation or expansion of a new industrial sector. Specifically, EDA has committed $100 million of its Build Back Better Regional Challenge funds and $200 million of its Economic Adjustment Assistance funds to directly support coal communities.
About the US Economic Development Administration (www.eda.gov)
The mission of the US Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the country’s regions for growth and success in the global economy. EDA, an agency within the US Department of Commerce, invests in communities and supports regional collaborations to create jobs for US workers, foster American innovation, and accelerate long-term sustainable economic growth.