On July 8, 2021, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $864,550 grant to TexAmericas Center, New Boston, Texas, to construct new rail facilities and refurbish those currently in operation at the mixed use economic development site. This EDA grant, to be matched with $216,138 in local investment, is expected to create 157 jobs, retain 5 jobs, and generate $250,000 in private investment.
“The Economic Development Administration plays an important role in helping communities implement their plans to provide the vital infrastructure that businesses need to be successful,” said Jorge Ayala, Director of EDA’s Austin Office. “This EDA investment will design and build critical rail infrastructure to support the growth of industrial and commercial businesses within TexAmericas Center, leading to additional job opportunities and a stronger regional economy.”
“As we unleash the full might of the Texas economy, we must continue to find new ways to support and develop businesses across our state,” said Governor Greg Abbott. “I thank the Economic Development Administration for its investment in TexAmericas Center in New Boston, which will create more jobs and bolster economic opportunity in the community for generations of Texans, both present and future.”
“While Texans persevere as COVID-19 wreaks havoc on our state, we must take steps to ensure that our communities are equipped to weather the storm,” said Senator John Cornyn. “I applaud this announcement and will continue to do everything I can to make economic growth across Texas a high priority.”
This project was made possible by the regional planning efforts led by the North East Texas Economic Development District (NETEDD). EDA funds NETEDD 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.
As Per Financial Assistance Award:
Project Description:
The proposed improvements to the East Campus will include modernization of a section of the WWII rail within the campus. The project components include reconstruction of existing track which include replacing track turnouts, reshaping track ballast, replacing sections of track and older ties, and the construction of new railroad track.
The rail upgrade will address the track classification appropriate to the volume of traffic and rail car weight and length anticipated for industrial and commercial tenants. Modernizing the WWII rail will allow businesses to grow in an economic development site that not only meets current rail needs, but opens the door for future manufacturing, shipping, and a variety of job opportunities.
Project Cost: $1,080,688
Federal EDA: $864,550
Non-Federal: $216,138