The US Department of Economic Development Administration (EDA) has awarded a $1.5 million grant to the city of Kingsport, Tennessee, for upgrades to the existing water pump station. This grant is funded by the American Rescue Plan. This project will provide Kingsport with a reliable water source and consistent service, attracting new businesses to the region while helping others to expand. This EDA grant will be matched with $5 million in local funds and is expected to create 83 jobs and generate $230 million in private investment.
This project was made possible by the regional planning efforts led by the First Tennessee Development District (FTDD). EDA funds FTDD to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
“I am so excited to be working with the City of Kingsport once again on another EDA project to serve the citizens of Kingsport and Eastman Chemical Company," said FTDD Director of Community Planning, Housing & Development, Bill Forrester. "The water infrastructure upgrades will not only assist Eastman Chemical Company to create 83 jobs and invest over $230 million in a new recycling center, but will ensure reliable water service for the City and for future economic development."
This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance Program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs. EDA’s Coal Communities Commitment allocates $300 million of EDA’s $3 billion American Rescue Plan appropriation to support coal communities as they recover from the pandemic and to help them create new jobs and opportunities, including through the creation or expansion of a new industry sector. Specifically, EDA has dedicated $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 U.S. Economic Development Administration (www.eda.gov) The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.
For information about this grant award, or other programs related to the First Tennessee Development District, please contact Mark Stevans, email@example.com.