Rep. Cuellar announces $1.5 million federal investment to support business development in Laredo

0

Laredo, TX- Today, U.S. Congressman Henry Cuellar (TX-28) announced that the U.S. Department of Commerce’s Economic Development Administration (EDA) is providing a $1.5 million federal grant to the City of Laredo to help build a two-mile road as part of the Springfield Avenue Extension.

This grant will help stimulate business and job growth in the area by providing a new trade route to service approximately 170 acres of industrial land. The EDA investment will be matched with $375,000 in local funds.

“The U.S. Department of Commerce is granting the City of Laredo $1.5 million to support business development and job growth as part of the Springfield Avenue expansion. Specifically, this funding will be used to extend a road by nearly 2 miles and support hundreds of temporary jobs,” said Congressman Cuellar. “I will always fight for additional federal funding that will create jobs and business opportunities in my hometown. Thank you to Secretary Raimondo, Assistant Secretary Castillo, and our local leaders in Laredo, for their continued support of South Texas development.

Springfield Avenue Extension Project

“President Biden is committed to ensuring that our communities have the resources they need to diversify and grow their economies,” Commerce Secretary Gina M. Raimondo said.“This EDA project will spur private investment and job creation in Laredo.”

“The Economic Development Administration plays an important role in promoting locally-led economic development strategies that drive critical business expansion efforts to create stronger and more resilient regional economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project will advance Laredo’s Springfield Avenue expansion project to position the area for future economic success.”

The Springfield Avenue Extension Project is a four (4) phase project that will connect Del Mar’s Springfield Avenue to Loop 20.

This funding will be used to help build and expand Phase 2 of the project – nearly 2 miles of new roads and infrastructure connecting Springfield Ave between International and Shiloh. This new road is a vital part of economic development and job creation in North Laredo, where transportation, logistics and commercial development continue to grow.

This project was made possible through regional planning efforts led by the South Texas Development Council (STDC). The EDA funds STDC to 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.

To learn more about the United States Economic Development Administration, visit www.eda.gov.

###

Share.

Comments are closed.