Department of Commerce Invests $3 Million in CARES Act Recovery Assistance to Support Business Growth and Resiliency in Victoria, Texas : Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $3 million CARES Act Recovery Assistance grant to Victoria County Navigation District, Victoria, Texas, to make railway infrastructure improvements needed to spur business and job growth at the Port of Victoria. The EDA grant, to be matched with more than $3 million in local investment, is expected to create 83 jobs, retain 300 jobs, and generate nearly $46 million in private investment.
“Providing the necessary infrastructure that communities and businesses need to be successful and recover from the economic impact of COVID-19 is a top priority for EDA,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This rail expansion will accelerate economic and business growth at the Port of Victoria and strengthen the region’s economic resilience.” “While Texans persevere as COVID-19 wreaks havoc on our state, we must take steps to ensure that our communities are equipped to weather the storm,” said Senator John Cornyn. “I applaud this announcement and will continue to do everything I can to make economic growth in Victoria a high priority.”
“Texas railways and infrastructure are vital to our state’s and nation’s economic success, and I’m glad to call this grant a victory for our part of south Texas,” said Congressman Michael Cloud (TX-27). “The Port of Victoria’s rail project will be vital to our region as we continue to recover from the past few years’ hurricanes and COVID-19.”
This project will construct a 1.9-mile rail loop to serve existing and future businesses at the Port of Victoria. The rail loop will allow the area to handle larger capacity trains that businesses need to remain competitive.
This project was made possible by the regional planning efforts led by the Golden Crescent Regional Planning Commission, which EDA funds to help 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 under the Coronavirus Aid, Relief, and Economic Security (CARES) Act ( Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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.
Contact: EDA Public Affairs Department, (202) 482-4085
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