WASHINGTON — U.S. Commerce Secretary John Bryson today announced a $1.76 million Economic Development Administration (EDA) grant to the Industrial Development Board of Perry County, Tennessee, to help rebuild critical industrial infrastructure and mitigate the impact of severe flooding in 2010. The investment is expected to create nearly 400 jobs and generate approximately $23 million in private investment over the next five years.
“This $1.7 million EDA investment in Perry County is an example of the Administration’s commitment to helping rebuild rural areas impacted by natural disaster,” said Secretary Bryson. “The grant announced today will not only help rebuild critical infrastructure following flood devastation, but will also generate investment necessary to help save and create jobs in the community.”
The investment is part of a project undertaken by the Industrial Development Board of Perry County to upgrade a vacant industrial building in Linden, Tenn., to accommodate NYX, Inc. The company has committed to establishing a $23 million manufacturing facility that will produce injection molded plastics for a wide variety of automotive manufacturers. The new facility will enhance the region’s existing automotive cluster.
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.