Washington- U.S. Commerce Secretary Gary Locke today announced $2.6 million in U.S. Economic Development Administration (EDA) grants to boost competitiveness and create new jobs for Arkansas residents.
The investment includes $2 million to the city of Little Rock to convert the old Rock Island Railroad Bridge to a pedestrian and bicycle bridge that will improve the potential for business expansion and development by connecting Little Rock’s major attractions, including the Clinton Presidential Center, Heifer International, the Verizon Center, Dickey Stephen baseball stadium, the River Market commercial district, the Argenta Arts District, and Farmers Markets in downtown Little Rock and North Little Rock. To improve the University of Arkansas for Medical Sciences BioVentures Center and promote life sciences, an additional $600,000 EDA grant will fund a major incubator that is expected to create 20 jobs and generate $258,000 in private investment, according to grantee estimates.
This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.
