Rockford Area Economic Development Council receives $150,000 grant
Online Staff Report
Rockford Area Economic Development Council (RAEDC) has been awarded a $150,000 grant by the U.S. Economic Development Administration (EDA).
The grant will be used to help develop a strategic diversification plan that will work to attract new companies to the area while empowering existing local companies to quickly emerge with new products or evolve into entirely different product sectors altogether.
The awarding of the grant was announced Sept. 20 by acting U.S. Commerce Secretary Rebecca Blank. RAEDC’s grant is part of $1.7 million in EDA grants issued to organizations throughout the state.
Other investments include the following:
• $1,498,618 million to the city of Rock Island to provide infrastructure to support development of a sustainable business park that will add economic diversity and reduce the region’s dependence on the Rock Island Arsenal. The park will be marketed to businesses interested in sustainability to become part of the emerging green industry sector. Private-sector investment will come as companies locate and build sustainable buildings that enhance and protect the environment. The project is expected to create approximately 92 jobs and generate $12 million in private investment.
• $98,000 to the Center for Neighborhood Technology and the South Suburban Mayors and Managers Association of Chicago and East Hazel Crest to develop a master plan to analyze growth opportunities in the Logistic Cluster and to provide a framework of restoring the logistic opportunities in Chicago Southland. This will foster regional environment that will encourage regional collaboration, private investment, job creation, and economic diversification opportunities.
Visit www.eda.gov for more details.
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