U.S. Department of Commerce Invests $734,000 to Support the Aquaculture Industry in Newport, North Carolina
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $734,000 grant to the North Carolina Coastal Federation, Inc., in Newport, North Carolina, to construct a new shellfish aquaculture facility.
This project will provide logistical support to shellfish farmers who have been adversely affected by Presidentially-declared disasters, including recent hurricanes and the coronavirus pandemic. This EDA investment will be matched with $183,500 in local funds.
“The Economic Development Administration works hand-in-hand with local communities to support their bottom-up, middle-out economic development strategies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This strategic, place-based project will support regional business growth and create economic resiliency in the region.”
“We are thankful for the Economic Development Administration’s support of North Carolina’s coastal infrastructure,” said Governor Roy Cooper. “This grant will provide funding for a state-of-the art aquaculture facility which will provide critical support for our state’s shellfish farmers.”
This project was made possible by the regional planning efforts led by the Eastern Carolina Council of Governments (ECCOG). EDA funds ECCOG 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.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.