Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Durant, Okla., to make critical water infrastructure improvements needed to support business expansion in the region. The investment will bring new growth to a Tax Cuts and Jobs Act-designated Opportunity Zone and, according to grantee estimates, is expected to create 73 jobs and spur $12 million in private investment.
“Outdated infrastructure has shackled the economic growth of countless communities across the country,” said Secretary of Commerce Wilbur Ross. “This project will help attract new development to an Opportunity Zone as established by the President’s Tax Cuts and Jobs Act, revitalizing an underserved area of the country.”
“EDA’s $1.5 million grant will ensure Durant remains a competitive area for continued economic development,” Inhofe said. “Thanks to several years of tremendous growth, Durant’s wastewater facility is no longer able to keep up with the increasing demand. By updating their water infrastructure, Durant will continue to be a competitive place to start or grow a business. I was pleased to work with the City of Durant and Choctaw Nation to make this critical grant possible.”
This investment funds wastewater infrastructure improvements needed to support continued economic growth in Durant. The project will reside in two Opportunity Zone census tracts and will result in the increased water capacity needed to help local businesses expand and attract new private investment to the region. This project was made possible by the regional planning efforts led by the Southern Oklahoma Development Authority. EDA funds the Southern Oklahoma Development Authority 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.
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..