Department of Commerce Invests $1.1M for Infrastructure Improvements to Establish Calvin Park
WATERTOWN, S.D. – U.S. Secretary of Commerce Gina Raimondo announced in a press release Tuesday that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million grant to the City of Watertown, South Dakota, for construction, water, and roadway infrastructure improvements in Calvin Industrial Park.
This project was made possible by the regional planning efforts of the Watertown Development Company (WDC) and First District Association of Local Governments (FDALG). The infrastructure improvements to the park will support the WDC’s mission by creating new opportunities for businesses to establish and grow, increase the property tax base for the city, and build the community’s workforce.
“The WDC is excited to continue its development plans within Calvin Park,” said Michelle Kakacek, Executive Director of the WDC. “This investment in Watertown by the EDA will help us welcome new and expanding business into the park and increase economic opportunity throughout our region.”
The EDA investment will be matched with $1.1 million in funds from the WDC and is expected to create more than 70 jobs and generate over $4.5 million in private investment, according to estimates.
“President Biden is committed to ensuring that our communities are provided with the resources they need to diversify and grow their economies,” said Secretary of Commerce Gina Raimondo. “This EDA investment in infrastructure will support business development in Watertown, creating jobs and providing economic resilience.”
ABOUT WATERTOWN DEVELOPMENT COMPANY
The Watertown Development Company (WDC) is a private, non-profit economic development company funded by private and public sector stakeholders. The WDC owns and operates buildings, land, and development areas for the economic benefit of the community. Since its establishment in 1947, its efforts have generated substantial impacts and benefits for many decades. The WDC has led strategies and been responsible for the creation of jobs and overall economic opportunity through programs designed to promote and increase the commercial, financial, and economic vitality of Watertown and its citizens.
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.
The original article can be found here: https://eda.gov/news/press-releases/2022/09/27/watertown-sd.htm