Economic Development Administration: U.S. Department of Commerce Invests in Hurricane Harvey Disaster Recovery in Anahuac, Texas Opportunity Zone - Insurance News | InsuranceNewsNet

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July 18, 2019 Newswires
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Economic Development Administration: U.S. Department of Commerce Invests in Hurricane Harvey Disaster Recovery in Anahuac, Texas Opportunity Zone

Targeted News Service (Press Releases)

WASHINGTON, July 17 -- The U.S. Department of Commerce's Economic Development Administration issued the following news release:

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department's Economic Development Administration (EDA) is awarding a $5 million grant to the city of Anahuac, Texas, to protect businesses from future floods by rebuilding a wastewater treatment plant that was severely damaged by Hurricane Harvey in 2017. The investment, to be located in a Tax Cuts and Jobs Act designated Opportunity Zone, will be matched by $1.2 million in local funds.

"The Trump Administration is working hard to rebuild our nation's infrastructure and improve economic resilience in the wake of natural disasters," said Secretary of Commerce Wilbur Ross. "This investment in Anahuac's vital water infrastructure will protect local businesses from future flood threats and attract additional investment through tax incentives provided by Opportunity Zone investments."

"Thanks to this EDA grant, the city of Anahuac will continue to rebuild from Hurricane Harvey, while also future-proofing their community in the event of another disaster," said Governor Greg Abbott. "I am grateful for our continued partnership with the United States Economic Development Administration as we work together to foster a stronger, more resilient future for the state of Texas."

"With the help of community, resilience, and sheer hard work, Texans have come a long way since Hurricane Harvey hit last year, but scars of its devastation still show throughout our state," said Senator Cornyn. "I'm thankful to the Trump Administration for providing this federal grant to Anahuac to protect against future flooding and give Texas families peace of mind as future storms approach."

"I was proud to support the City of Anahuac's application for critically-needed federal disaster grant funding to help rebuild and expand its wastewater treatment plant," said Representative Brian Babin. "As a lifelong resident of Southeast Texas, a former small-town mayor, and Congressman, I know that EDA funding for the City of Anahuac's project will be a much needed proverbial economic 'shot in the arm' to the recovery of our community. Expanding critical infrastructure will incentivize new residential and commercial growth in the area."

This investment funds the reconstruction of wastewater infrastructure damaged by Hurricane Harvey to support economic growth throughout the region. By leveraging public and private sector resources, the existing wastewater treatment plant in Anahuac will be rebuilt to protect businesses and homes from future flood events.

This project is funded under the Bipartisan Budget Act of 2018 (PL 115-123) (https://www.congress.gov/115/bills/hr1892/BILLS-115hr1892enr.pdf), in which Congress appropriated to EDA $600 million in additional Economic Adjustment Assistance (EAA) Program (https://www.eda.gov/pdf/about/Economic-Adjustment-Assistance-Program-1-Pager.pdf) funds for disaster relief and recovery as a result of Hurricanes Harvey, Irma, and Maria, wildfires and other calendar year 2017 natural disasters under the Stafford Act.

* * *

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.

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