One of the pieces of the Bipartisan Budget Act of 2018 was additional funding for the Economic Adjustment Assistance Program under the Economic Development Administration’s (EDA) purview. Hurricanes Harvey, Irma and Maria, as well as severe wildfires and other natural disasters in 2017 all prompted the additional funding.
The Department of Commerce – the parent administration of the EDA – announced last week that two Georgia cities, Albany and Lavonia were receiving two major grants for infrastructure and economic development assistance.
Albany will be receiving an $8 million grant to install utility infrastructure that will help to support the downtown business community. The grant will also be aimed at one of the Opportunity Zones designated by the Tax Cuts and Jobs Act, pushed through by the Republican Congress in 2017.
“This project will aid downtown Albany by providing the critical infrastructure needed to increase the community’s resiliency to future natural disasters,” said Secretary of Commerce Wilbur Ross. “Moreover, the Tax Cuts and Jobs Act Opportunity Zone designation will further incentivize investment in the area and help develop the local economy.”
The project will go toward funding buried utility infrastructure, including electricity and high-speed internet – a chronic woe to many in south and rural Georgia. The new infrastructure will also help Albany to become more resilient to natural disasters; more than 90% of Albany utilities customers were without power following Hurricane Michael last year.
“Regional leaders in Southwest Georgia, Albany and Dougherty County have come together time and again in the face of natural disasters to help their community recover and move forward, and I am thrilled that the U.S. Commerce Department chose to support economic development in the city of Albany,” said Senator Johnny Isakson. “This federal investment, which will be matched with $2.6 million locally and will generate additional private funding, is a perfect example of the benefits envisioned by the Opportunity Zones we created in the Tax Cuts and Jobs Act to help our communities in economically disadvantaged areas receive a needed boost.”
Lavonia will be receiving $2 million to fund wastewater infrastructure improvements to support the Gateway Industrial Park – on the critical I-85 corridor. An additional $2.6 million of local investment will help to finish the project, which is expected to attract $54 million in private investment and some 400 jobs.
The Georgia Mountains Regional Commission was central to the planning efforts for the project. Previous EDA funds helped the commission bring together private and public stakeholders to create an economic development roadmap, of which the Gateway Industrial Park is a part.
“This public-private partnership will help keep development of the Gateway Industrial Park on track and provide the area with opportunities for greater economic growth. This is a huge win for the community, and I want to thank President Trump and Secretary Ross for their efforts to support American workers and businesses,” said Senator David Perdue.
