The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $4.5 million CARES Act Recovery Assistance grant to the Perry County Port Authority, Tell City, Indiana, to make railway infrastructure improvements needed to support the growth of manufacturing and other businesses in three local industrial parks. This EDA grant, to be matched with $1.1 million in local investment, is expected to create 25 jobs, retain nearly 20 jobs, and generate more than $1.5 million in private investment.
“EDA is committed to helping communities across the nation implement strategies to mitigate economic hardships brought on by the coronavirus pandemic,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This EDA investment will provide enhanced rail capacity to support Perry County’s critical metals, automotive support, and logistics businesses and encourage additional business growth to strengthen the region’s economic resilience.”
“Positioned as the Crossroads of America, Indiana’s economy relies on dependable transportation infrastructure,” said Senator Todd Young. “I’m proud to help the Perry County Port Authority secure the necessary resources to modernize the efficiency and reliability of its railway system. This grant will further bolster economic development, protect Hoosier jobs, and improve overall rail safety in Southwest Indiana.”
The Bridge Replacement Added Capacity Enhancement (BRACE) project will replace two 100-year-old bridges and the rail approaches near the bridges to tie to the main line. The project is along the Hoosier Southern Railroad, a 22-mile rail line extending from the Ohio River in Tell City, Indiana, to the Norfolk Southern Railroad in Lincoln City, Indiana. The two new bridges will be able to handle heavier freight to encourage business expansion and growth and strengthening economic resilience.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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 makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.