In This Issue

• Spotlight: EDA Invests in Infrastructure to Boost Manufacturing and Entrepreneurship Activity in New Jersey Opportunity Zone
• Success Story: Transformation of Former Texas Air Force Base Now Has Local Economy Soaring
• Highlight: Indiana’s Beaver Lake Dam Renovation and Improvement After 2008 Flooding Bolsters Positive Economic Impacts

Spotlight: EDA Invests in Infrastructure to Boost Manufacturing and Entrepreneurship Activity in New Jersey Opportunity Zone

On May 16, Assistant Secretary John Fleming announced that EDA is investing $3 million to upgrade and improve infrastructure in the Town of Kearney, New Jersey. The project is expected to help create more than 7,000 jobs, generate $1 billion in private investment and be matched by $1.3 million in local funds.

“The Trump Administration is proud to award its first Opportunity Zone grant in New Jersey, utilizing this valuable tool which was created as part of President Trump’s Tax Cuts and Jobs Act to better serve America’s economically distressed areas,” said Secretary Ross. “The added investment incentive provided by the Opportunity Zone program, coupled with the Commerce Department grant, will attract new business to Kearny’s new manufacturing, office, and entrepreneur space, and generate economic opportunity throughout the region.”

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Success Story: Transformation of Former Texas Air Force Base Now Has Local Economy Soaring

Brooks City-Base, located on San Antonio’s Southside just 10 minutes from downtown, has rapidly transformed from a former Air Force Base to a principal economic development entity.

An up-and-coming community attracting tourists, residents, and a host of new businesses, Brooks is home to a major medical school, Mission Trail Baptist Hospital, market rate apartments, light manufacturing plants such as Nissei Plastic Machinery America, DPT Labs and Mission Solar, and a full-service Embassy Suites Hotel & Spa – the only one of its kind south of downtown.

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Highlight: Indiana’s Beaver Lake Dam Renovation and Improvement After 2008 Flooding Bolsters Positive Economic Impacts

In 2008, a major flood in Dubois County, Indiana, led to a federal disaster declaration. The flooding left portions of several local roads under water and made them impassible for several weeks. This substantially impacted the regional economy, affecting local employers and employees that relied on these public roads.

The City of Jasper, Indiana, needed to substantially renovate and improve the Beaver Lake Dam to prevent adverse economic impacts from future flooding. The dam did not meet safety standards set by the Indiana Department of Natural Resources at the time of the flooding.

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