PETERSBURG — The city of Petersburg has been awarded a $4.2 million federal grant to expand and improve its water infrastructure.
The grant comes via the U.S. Department of Commerce's Economic Development Administration (EDA) with the long-term intent of an improved water system helping to attract new businesses to the area, as well as better supporting existing ones.
The announcement was made Wednesday by U.S. Secretary of Commerce Wilbur Ross.
“This EDA investment will provide the water infrastructure Petersburg needs to spur business expansion and growth, and the project’s location in an Opportunity Zone will attract additional investment to the region," Ross said.
The project is funded under the Assistance to Coal Communities program (ACC) which awards funds to communities that have been severely impacted by declining use of coal. The program is meant to boost economic diversity, job creation, capital investment, workforce development and re-employment.
Petersburgh is one of 156 Opportunity Zones in the state of Indiana. The Opportunity Zone designation seeks to aid communities in economic distress.
“This collaboration will bring significant upgrades to the water systems of Petersburg,” Gov. Eric Holcomb said. “I appreciate this investment not only in Indiana’s infrastructure but also in the Hoosiers businesses and families who will benefit from these improvements for years to come.”
The grant will be matched by $2.8 million in local investment money and is expected to either create or retain about 100 jobs in the area, according to a Department of Commerce news release, with hopes for close to $20 million in private investments.
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