U.S. Department of Commerce invests $2 million to support Pine Bluff economic group

BusinessCentral ArkansasNews BriefsTalk Politics

by Talk Business & Politics staff ([email protected]) May 5, 2020 1:00 pm 1,296 views 

U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the Southeast Arkansas Economic Development District, Inc., (SEAEDD) of Pine Bluff to establish a new headquarters facility in Pine Bluff.

The EDA grant will be matched with $399,000 in local investment.

“The Trump Administration is committed to strengthening community-led economic development planning and natural disaster recovery efforts,” said Secretary of Commerce Wilbur Ross. “SEAEDD’s new economic development headquarters will provide the centralized, modern space necessary to advance the community’s economic development and disaster resiliency plans.”

“This investment supports the construction of a new headquarters for SEAEDD to advance economic development and disaster recovery efforts in Arkansas,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This new facility will further economic development outreach and provide new trainings to local leaders, arming them with tools to improve the region’s economy.”

“News of this grant couldn’t have come at a better time for Pine Bluff and Arkansas,” said Gov. Asa Hutchinson. “The opportunity to build a new headquarters will breathe new life into southeast Arkansas and energize the leadership of the economic development efforts as they seek to attract business and create jobs.”

The project was made possible by the regional planning efforts led by the SEAEDD, which EDA funds to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.

This project is funded by the Additional Supplemental Appropriations for Disaster Relief Act of 2019, which provided EDA with $600 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery.