Kokomo receives EDA grant
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The U.S. Department of Commerce’s Economic Development Administration has awarded the city of Kokomo $1 million for infrastructure upgrades. The EDA says the funding from the American Rescue Plan Act will be used to mitigate flooding in the downtown area adjacent to Kokomo Speedway.
In the past, flooding issues have disrupted speedway events and impacted tourism-related businesses around the speedway.
The project will include the construction and installation of an urban drainage system and sanitary sewer service along Davis Road, north of Morgan Street. Work is expected to begin in 2023.
The EDA says the grant will be matched with $383,000 in local funding and is expected to create 50 jobs, retain 113 more jobs and generate more than $2.5 million in private investment.
“The immediate impact of this grant will be the major benefits these infrastructure improvements will provide along North Davis Road,” Kokomo Mayor Tyler Moore said in written remarks. “This project will not only boost local tourism but stands to create additional investment and jobs and become a driver in economic development in the area.”
The project will be funded through the EDA’s $240 million competitive American Rescue Plan Travel, Tourism and Outdoor Recreation program.