WASHINGTON, DC – U.S. Rep. Hal Rogers (KY-05) announced a nearly $1.8 million grant for the McCreary County Water District from the U.S. Economic Development Administration (EDA) to improve wastewater infrastructure and boost business growth. The funding will be invested in a designated Tax Cuts and Jobs Act Opportunity Zone, which will be matched with nearly $445,000 in additional federal funding to help support the economic expansion and partnership with Outdoor Venture Corporation and Fibrotex USA.
“It’s exciting to see business growth in McCreary County,” said Congressman Rogers, who helped secure the federal funding for this grant opportunity. “Job creation is dependent upon the resources and infrastructure we have in each county, and this EDA grant will provide a much-needed upgrade to the local sewer system to support business growth for 150 new jobs that were recently announced.”
“EDA encourages investment in Opportunity Zones to not only enhance return on investment for business interests, but also to encourage the public/private partnerships needed to drive private investment to distressed communities,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “The improved wastewater treatment infrastructure, coupled with the area’s Opportunity Zones, will grow and diversify the local economy.”
This project was made possible by the regional planning efforts led by the Lake Cumberland Area Development District (LCADD). EDA funds LCADD to 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 Assistance to Coal Communities (ACC) program, through which EDA awards funds on a competitive basis to assist communities severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development, and re-employment opportunities.
The funding announced today goes to one of Kentucky’s 144 Opportunity Zones. Created by the Tax Cuts and Jobs Act of 2017, Opportunity Zones are spurring economic development in economically-distressed communities nationwide. In June 2019, EDA added Opportunity Zones as an Investment Priority, which increases the number of catalytic Opportunity Zone-related projects that EDA can fund to fuel greater public investment in these areas.
Visit halrogers.house.gov to learn more about Congressman Rogers’ work in Washington, DC and across Kentucky’s Fifth Congressional District, spanning 30 counties in Southern and Eastern Kentucky.