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Commerce Department Invests $2.1 Million in Federal
Chicago, Ill.--U.S. Commerce Under Secretary Grant Aldonas underscored the Bush Administration's commitment to growing the economy and creating jobs when he announced the Commerce Department has invested $2.1 million, creating 1,316 jobs in Illinois.
"The Commerce Department is pleased to partner with the people of Illinois to spur investment and innovation through economic development grants like the two presented today," said Aldonas. "The Bush Administration will not rest until every American who is seeking work finds a job."
One of the investments will benefit Illinois manufacturing. The city of Madison will get $1.2 million to revitalize and repair the former Charles Melvin Price Support Center military base that is being redeveloped as the River's Edge Industrial and Business Park. The funds will also be used to study the engineering and design for a new steel center to ensure regional transportation of steel is more efficient. As a result of the investment, citizens in Madison and nearby St. Louis can expect to see 1,000 new jobs.
The city of Ottawa will get $900,000 to support a proposed hotel and convention facility in downtown Ottawa, creating 316 jobs.
The Commerce Department's Economic Development Administration (EDA) awarded
the investment. EDA serves as a venture capital resource to meet the economic
development needs of distressed communities throughout the United States.
EDA partners with states, units of local government and community nonprofit
organizations in economically distressed areas, regions and unemployment
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