Wednesday, September 7, 2016

Southern Alabama Funded $5 Million Towards Economic Development Projects

Two Southwest Alabama projects were granted funds totaling almost $5 million from the Economic Development Administration (EDA) last Friday, September 2. It was announced by the deputy assistant secretary of Commerce for Economic Development and chief operating officer of the EDA, Matt Erskine, that $1.9 million will be granted to build an access road to a new aerospace manufacturing facility in Atmore and $2.9 million would go towards a business and technology incubator in Mobile.

The access road will be built in the Rivercane Industrial Park. Matching the EDA’s $1.9 million grant with $580,000 is the city of Atmore who believes the new aerospace manufacturing facility will create 116 jobs and $114 million in private investment.

As for the $2.9 million grant in Mobile, the money will go to the Mobile Area Chamber of Commerce Foundation for renovation of the former Threaded Fastener Building in downtown Mobile on St. Louis Street. The city of Mobile, local private foundations, private industry, the University of South Alabama and Mobile County will match the project with $1.9 million.

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