Once completed, the project will help improve existing supply chain issues in an area impacted by fluctuations in the energy economy, which will promote economic growth and resiliency throughout the region. The project will provide water and sewer system upgrades needed to support the expansion of a local truckload carrier company, while attracting other businesses to the region, including a travel plaza.
$1,555,237 in Assistance to Coal Communities, matched by $388,809 in local investment, to the Town of Spindale/Broad River Water Authority, Spindale/Rutherford County, North Carolina, to support the Town of Spindale with making water and sewer system improvements needed to help business growth and job creation in Rutherford County.
$1,555,237 in one Economic Adjustment Assistance project, matched by $388,809 in local investment, as follows:. These investments include the following: (1) $1,555,237 in one Economic Adjustment Assistance project to help communities design and implement strategies to adjust or bring about change to their economy in response to structural damage to their underlying economic base that will help create 25 jobs, save 10 jobs, and leverage $5,000,000 in private investment (2) $1,150,980 in one Public Works project to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 100 jobs and leverage $12,000,000 in private investment (3) $328,854 in three Technical Assistance University Center projects to make the varied and vast resources of universities available to the economic development practitioner community and (4) $70,770 in one Local Technical Assistance project to strengthen the capacity of local or state organizations and institutions to undertake and promote effective economic development programs. EDA announced six investments from July 13-20, 2023, totaling $3,105,841, which is matched by $1,484,983 in local investments.
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