WASHINGTON, DC – May 28, 2015 – (RealEstateRama) — The U.S. Commerce Department’s Economic Development Administration (EDA) today announced a $992,687 grant to the State of Maine Department of Transportation to construct a highway interchange in the southern area of Waterville, Maine. According to grantee estimates, this project will enable the expansion of an existing industrial area, creating 325 jobs in manufacturing, warehousing, distribution, and business services, and generating $34 million in private investment.
“For nearly 50 years, EDA has understood the strong relationship between infrastructure and economic growth and has supported infrastructure creation and upgrades across the country,” said U.S. Assistant Secretary of Commerce for Economic Development Jay Williams. “The EDA investment announced today will benefit the region’s economy by providing better, safer access to jobs and facilitating more efficient transportation of goods and supplies.”
According to the grantee, current access to the southern region of the city, where the facilities are located, has become restricted because the only available Interstate Highway interchange is four miles beyond the industrial area and exits through a congested commercial and residential area. The grantee, the Maine Department of Transportation, has determined that the roads are operating beyond capacity. EDA’s investment will help construct a highway interchange on Interstate 95, which will provide improved access for workers and supplies to and from the existing industrial facilities.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.