The U.S. Commerce Department’s Economic Development Administration (EDA) today announced a $550,000 investment to the city of Beattyville, Ky. The investment will help Beattyville build a new regional water plant that will serve business and industry in Lee, Wolfe and Breathitt counties.
“President Bush believes one way to create jobs is to grow the economy by encouraging investments in local communities,” said U.S. Assistant Secretary of Commerce for Economic Development Sandy K. Baruah. “This EDA investment will help attract $8 million in private investment and create 87 new jobs for local citizens.”
“This critical investment in Beattyville’s public infrastructure enables economic opportunities that historically have been lacking in this area,” said U.S. Rep. Harold “Hal” Rogers (KY-05). “This final investment from the federal government completes the hard work of Beattyville's leaders in securing all the funding required to start the project.”
EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA’s mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.
Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.