The U.S. Department of Commerce’s Economic Development Administration (EDA) has announced a $2.7 million grant to Perryton, Texas in an effort to stimulate business growth following recent natural disasters. U.S. Secretary of Commerce, Gina Raimondo, made the announcement, noting that the funding will support the creation of the Rebuild Perryton Incubator, a commercial space for businesses affected by tornadoes. An additional $625,000 in local funds will match the federal grant.
The Rebuild Perryton Incubator will repurpose an existing building in Perryton to provide commercial space for businesses that suffered damage during the recent tornadoes in the area. This initiative aims to create jobs, strengthen the local economy, and contribute to the region’s recovery.
Secretary Raimondo asserted that this grant is in line with President Biden’s Investing in America agenda, which aims to provide communities across the country with the necessary resources for recovery and rebuilding after natural disasters. The EDA’s Assistant Secretary, Alejandra Y. Castillo, also affirmed the Administration’s commitment to supporting local communities with place-based economic growth.
Governor Greg Abbott of Texas thanked the EDA for the grant and emphasized its importance for local small businesses’ recovery. Senator John Cornyn echoed this sentiment, highlighting the pivotal role of small businesses in the Texas economy, and the need for a swift recovery following natural disasters.
The Panhandle Regional Planning Commission (PRPC) facilitated this grant, leading regional planning efforts to strengthen the regional economy. The EDA funds the PRPC to create an economic development roadmap, support private capital investment, and create jobs.
The Disaster Relief Supplemental Appropriations Act, 2023, funded this project, which provided the EDA with additional funds for disaster relief and recovery in areas that received a major disaster declaration, such as Perryton, Texas.
