WASHINGTON (June 9, 2014) — U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding a $1.25 million grant to the city of Owingsville, Ky. The funds will support existing businesses and attract new businesses to the area by making critical infrastructure improvements to the Bath County Industrial Park. The investment will help create 200 new jobs and generate more than $40 million in private investment, according to the grantee.
“The Obama Administration is committed to improving our nation’s infrastructure, which is crucial for both economic growth and job creation,” Pritzker said. “The EDA grant announced today will provide water infrastructure improvements that support existing businesses and help attract new business and investment to the Owingsville region.”
The EDA investment will support modifications to the Bath County Industrial Park wastewater treatment plant. CTI Foods, the largest employer in the region, is located in the park, and this project will enable it to expand its existing Owingsville facility. The current wastewater treatment plant lacks the capability to pre-treat wastewater and remove suspended byproducts that result from food and meat processing. This limits the current operations of CTI Foods. According to the grantee, CTI Foods has also indicated that this investment will enable future expansions, potentially creating additional jobs and supporting the growth of an emerging cluster in the area.
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.