$3M Federal Grant to Benefit Industrial Park

(Image courtesy of the Architect of the Capitol.)

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Floyd County is getting a major economic boost from the U.S. Department of Commerce in the form of a $3 million grant. The money is earmarked for roadway infrastructure improvements needed for the Floyd County Tech Park. “The construction of this roadway and other related infrastructure in Floyd County will spur growth at the industrial park, help diversify the region’s economy, and create new jobs,” said U.S. Secretary of Commerce Wilbur Ross in a news release.

The grant comes from the Economic Development Administration, an agency within the Department of Commerce. It requires a $3 million match in local investment. Improvements to the industrial park are needed to support high-tech businesses and is expected to create 50 jobs.

Congressman Trey Hollingsworth (R-09), whose district includes Floyd County, says the grant is a boon to the region’s industrial base. “I look forward to the support this grant will bring to our Floyd County community and the growth of our southern Indiana economy.”

According to the news release the county is investing in the Floyd County Tech Park by accommodating high-tech businesses, including those working in spaceflight systems and equipment manufacturing sector.