U.S. Secretary of Commerce Gina Raimondo has today announced that the Department’s Economic Development Administration (EDA) is investing $6.3 million in the state of Texas. The aim of this fund is to support business growth and workforce development following recent natural disasters within the state.
This investment will be divided among three key projects: The Texas Biomedical Research Institute in San Antonio will receive $2.5 million to construct a veterinary care facility and support biomedical research. This initiative is expected to create 445 jobs and generate $700 million in private investment. Angelo State University in San Angelo is set to receive a $2 million grant for the construction of a commercial aviation training facility, which is expected to create or retain nearly 40 jobs and generate $7 million in private investment. Lastly, the city of Hidalgo will be awarded a $1.8 million grant for infrastructure improvements to support business growth at an industrial park, a project expected to create or retain more than 280 jobs and generate $20.5 million in private investment.
Secretary of Commerce Gina Raimondo said these investments are part of President Biden’s Investing In America agenda, that aims to build a resilient workforce and provide support for communities affected by natural disasters. Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo echoed these sentiments, stating the EDA’s role in supporting locally developed strategies to drive economic opportunity. Governor Greg Abbott of Texas expressed gratitude for the grant, highlighting the job opportunities it will create in various fields and how it aids in Texas’s recovery from recent severe weather.
These projects are facilitated by regional planning efforts led by the Alamo Area Council of Governments and the Concho Valley Economic Development District. Both organizations pull together the public and private sectors to create an economic development roadmap that strengthens the regional economy, supports private capital investment and creates jobs. The funding for these projects originates from the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with additional funds for disaster relief and recovery in areas affected by major disasters in 2021 and 2022.
