A $16 million grant is bound for the city of New Bedford to improve the city’s port, helping prepare it for future natural disasters.
According to a U.S. Economic Development Administration press release, U.S. Secretary of Commerce Wilbur Ross announced the grant funding on Tuesday.
Big news for#NewBedford: $16M@US_EDA grant is a major step to modernize@port_of_NB & maintain its standing as America’s top fishing port. Thanks to@CommerceGov &@MassGovernor for their partnership, & our state & federal delegations for their support.https://t.co/gNnb6JWOxY
— Jon Mitchell (@JonMitchellNB)October 20, 2020
The money, according to the press release, will “make port infrastructure improvements needed to protect commercial fishing businesses from floods and severe weather events.”
The Economic Development Administration (EDA) grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $4 million in local funds and is expected to create or retain more than 400 jobs and spur $4 million in private investment, the press release states.
According to a Tweet from New Bedford Mayor Jon Mitchell, a majority of the matching funds will come from the state, with the New Bedford Port Authority chipping in $500,000.
The $16M from EDA makes up the largest portion of a $20M award, which includes $3.5M from state, and a $500k match from@port_of_NB, to build and sustain critical port infrastructure for our commercial fishing industry.
— Jon Mitchell (@JonMitchellNB)October 20, 2020
“The Trump Administration is committed to helping disaster-impacted American communities obtain the modern infrastructure they need to build resilience against natural disasters,” Ross stated in the press release. “These port infrastructure improvements will better protect New Bedford’s commercial fishing industry from flooding, and the project’s location in an Opportunity Zone will drive additional private investment to the community.”
“New Bedford was struck by a severe winter storm with hurricane force winds and flooding in March of 2018,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This project will strengthen this vital commercial fishing hub’s resilience to future natural disasters, and its location in an Opportunity Zone will attract transformative investment.”
“Massachusetts’ ports are important economic hubs,” said Governor Charlie Baker, “and this funding will help ensure critical infrastructure and commercial fishing businesses in New Bedford are protected from future natural disasters and the impacts of climate change.
“Our administration is grateful for this partnership with the federal government as we work to create jobs while building a more resilient Commonwealth.”
