U.S. Department of Commerce Invests $865,000 to Support Tech-based Manufacturing and Job Growth Efforts at the Reese Technology Center in Lubbock, Texas
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $865,000 grant to Lubbock Reese Redevelopment Authority (LRRA), Lubbock, Texas, to make critical security and airport runway enhancements to facilitate job creation at the Reese Technology Center. The EDA grant, to be matched with $865,000 in local investment, is expected to generate $20 million in private investment.
“The Economic Development Administration is pleased to continue to support LRRA’s strategy to facilitate job creation at the Reese Technology Center,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This project will provide the security and airpark infrastructure updates necessary to foster business growth and expand research of new technologies at the 2,467-acre business park.”
This project was made possible by the regional planning efforts led by the South Plains Council of Governments, which EDA funds to help 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.
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.