SHARP COUNTY, Ark. (KAIT) -U.S. Secretary of Commerce Wilbur Ross announced Tuesday the Department of Economic Development Administration (EDA) awarded Sharp County $3 million in CARES Act Recovery Assistance.
According to a news release, the money will help renovate and rebuild a manufacturing facility and boost the county’s economic diversification and resiliency efforts.
The EDA grant will also be matched with $750,000 in local funds.
It’ll help create 245 new jobs in Ash Flat in the next four years and spur more than $27 million in private investments.
“EDA’s investment comes at a crucial time for Sharp County’s economy to thrive and to provide hard-working Americans with new opportunities,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This project will renovate a 277,000 square-foot manufacturing building to attract new manufacturing industries and private investments to the region as it recovers from the adverse effects of the pandemic.”
“This investment by the U.S. Department of Commerce not only opens opportunities in the fast-growing manufacturing sector for local Arkansans but also expands the state’s economy to attract further economic development,” Congressman Rick Crawford added. “I applaud this Administration for continuing to put Americans first and for always protecting our economy.”
According to the media release, the White River Planning and Development District (WRPDD) helped plan and put the project together.
The CARES Act provided the EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare, and respond to the COVID-19 pandemic.