Federal Dollars Help Recovery in Texas | Business Facilities - Area Economic Development, Site Selection & Workforce Solutions

The federal government is providing the Houston area with $20.9-million worth of Economic Development Administration investments.


https://businessfacilities.com/2009/05/federal-dollars-help-recovery-in-texas/
The federal government is providing the Houston area with $20.9-million worth of Economic Development Administration investments.
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Federal Dollars Help Recovery in Texas

Federal Dollars Help Recovery in Texas | Business Facilities - Area Economic Development, Site Selection & Workforce Solutions

The federal government is providing the Houston area with $20.9-million worth of Economic Development Administration investments, which will be used to help boost the Texas Gulf Coast region’s economic recovery following hurricanes Ike and Gustav.

“These investments will help rebuild the region’s global competitiveness and get Texas Gulf Coast communities, businesses and entrepreneurs back on their feet,” Gary Locke, Secretary of Commerce, said in a statement.

Funds include:

• $10 million for the City of Galveston and Port of Galveston to make improvements to increase the efficiency and productivity of the port. It is estimated the project will create 300 jobs and generate $12 million in private investment.

• $10 million for the Gulf Coast Economic Development District of Houston to establish a disaster recovery revolving loan fund that will provide businesses in the Texas Gulf Coast region with the gap financing capital they need to recuperate.

• $900,000 for the Gulf Coast Economic Development District of Houston to support continued disaster recovery economic development planning efforts in the hurricane-impacted Texas Gulf Coast region and to help administer the revolving loan fund.

The Commerce Department on May 18 gave $2 million to the City of Friendswood for the Clearwood Business Park.

Suggested Links:

  • $1B Ammonia Plant Coming To Greater Houston The investment by Gulf Coast Ammonia LLC, Air Products, and Eastman Chemical Company will build the world’s largest single-train ammonia synthesis loop in Texas City, TX.
  • Hurricane Katrina A Decade Later: A Look Back, A Look Ahead A decade ago, Hurricane Katrina slammed into the U.S. Gulf Coast, forcing more than a million people from their homes and taking more than 1,800 lives. A look at how the region has recovered.
  • Save U.S. Here's the understatement of the year for you: The United States is in some pretty deep trouble. As our presidential nominees debate whether or not to have a debate tomorrow, our current […]
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