Wednesday, January 22, 2025

US Department of Economic Development grants $2.5M to Watertown

Must read

play

Last week, the U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.5 million grant to the city of Watertown, South Dakota, for sewer infrastructure improvements needed to support business growth in the region.

This grant will construct sanitary sewer and lift station improvements at the Watertown Industrial Park. This EDA investment will be matched with $894,811 in local funds, the Jan. 16 release stated, and is expected to create 30 jobs and generate $10 million in private investment, according to grantee estimates.

“This EDA investment will increase current and future development at the Watertown Industrial Park, helping to grow and diversify the local economy,” Raimondo said in a release.

This project is made possible by the regional planning efforts led by the First District Association of Local Governments (First District). EDA funds First District to bring together the public and private sectors to create and maintain their Comprehensive Economic Development Strategy as a roadmap to strengthen the regional economy, support private capital investment and create jobs.

“The Economic Development Administration works closely with local communities to support their disaster resiliency and recovery strategies,” said Acting Assistant Secretary of Commerce for Economic Development Cristina Killingsworth, according to the release. “This project will expand capacity for industrial business growth in Watertown to bring good-paying jobs and build economic resilience in the region.”

This project is funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.

Latest article