U.S. Department of Commerce Invests $2.7 Million to Support Business Growth in Perryton, Texas

WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.7 million grant to the city of Perryton, Texas, to support business growth following natural disasters in the region.

This grant will create the Rebuild Perryton Incubator, converting an existing building into commercial space for local businesses impacted by recent tornadoes. This EDA investment will be matched with $625,000 in local funds.

“President Biden’s Investing in America agenda is a commitment to ensuring that communities in Texas and across the country have the resources they need to recover and rebuild after natural disasters,” said Secretary of Commerce Gina Raimondo. “This EDA investment will support businesses in Perryton as they work to come back from recent tornadoes – creating jobs and strengthening the regional economy in the process.”

“The Economic Development Administration works closely with local communities to support place-based economic growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This investment in Perryton will allow businesses to grow and thrive following natural disasters, supporting a resilient economy that benefits Texans throughout the region.”

“As the Perryton community continues to recover from tornadoes that devastated the region last year, Texas is working tirelessly to provide the resources needed for Texans and businesses to rebuild,” said Governor Greg Abbott. “I thank the Economic Development Administration for this grant that will help construct a workspace for local small businesses that sustained damage. The construction of the Rebuild Perryton Incubator is an important step forward as we work together to help Texans and businesses on the road toward recovery.”

“Small businesses are the backbone of the Texas economy,” said Senator John Cornyn. “In the aftermath of a natural disaster, every day counts, and this award will give Perryton the resources to help small businesses swiftly rebuild in the Panhandle.”

This project was made possible by the regional planning efforts led by the Panhandle Regional Planning Commission (PRPC). EDA funds PRPC 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.

This project is funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.

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.