Funds

U.S. Department of Commerce Invests $4.9 Million in American Rescue Plan Funds to Support Business Development in South Amboy, New Jersey

WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $4.9 million grant to City of South Amboy, Inc., South Amboy, New Jersey, for road and sewer infrastructure improvements to spur economic development. This grant is funded by the American Rescue Plan.

This project will provide the infrastructure needed to advance three industrial redevelopment projects, including the construction of two warehouse distribution centers. This EDA grant will be matched with $1.7 million in local funds and is expected to create 390 jobs and generate $1.1 million in private investment, according to grantee estimates.

“President Biden’s American Rescue Plan offers direct relief to American communities as they work to build a better America for the future,” said Secretary of Commerce Gina Raimondo. “This EDA investment will promote business expansion and job creation in South Amboy, building a stronger, more robust regional economy.”

“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “EDA is pleased to partner with South Amboy as it works to provide the infrastructure businesses need to grow and thrive.”

“Federal funding through the American Rescue Plan will enable us to continue building local communities that are more economically prosperous and competitive than ever,” said Governor Phil Murphy. “Investing in infrastructure catalyzes growth in our local economies and communities, a critical part of New Jersey’s COVID-19 pandemic recovery. In order to sustain the growth of our economy, we must generate good-paying new jobs and make proactive infrastructure upgrades that not only boost efficiency, but cultivate the safe, healthy working conditions our residents deserve.”

“I’m proud to have worked with my Democratic colleagues to pass the American Rescue Plan which has allowed communities across New Jersey to begin much-needed infrastructure projects,” said Senator Bob Menendez. “This grant will create good-paying jobs, spur economic development, and improve road and water infrastructure, creating a safer and healthier community for families to live. I appreciate the Biden Administration’s commitment to New Jersey and all our nine million residents.”

“The American Rescue Plan has provided communities with flexible funding that can be used to boost economic development and recover from the COVID-19 pandemic,” said Senator Cory Booker. “This grant will help South Amboy build a more resilient infrastructure, drive economic activity, and create hundreds of jobs in the process.”

“I’m glad to see that South Amboy will receive $4.9 million from the American Rescue Plan to help the city rebuild its infrastructure and provide better services for residents,” said Congressman Frank Pallone, Jr. (NJ-06). “It’s great to see the American Rescue Plan delivering for New Jersey and providing the federal funding our state needs to create jobs and make critical repairs to infrastructure. I’m grateful to Secretary Raimondo for her leadership as we work together to ensure equitable investment in our communities. I commend Mayor Henry for recognizing and capitalizing on good opportunities like this one that help make South Amboy a great place to live.”

This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance Program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs. Effective May 26, 2022, EDA has officially closed all of its American Rescue Plan programs for applications. The $3 billion program funding will be awarded on a rolling basis through September 30, 2022.

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