Texas Border Business
WASHINGTON – Today, Congressman Vicente Gonzalez (TX-15) announced that the U.S. Department of Commerce Economic Development Administration (EDA) is awarding a $2.5 million grant to the city of Hidalgo, Texas, to make critical roadway and drainage repairs needed to improve Produce Road, a major trade gateway. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $625,000 in local investment and is expected to create or retain nearly 200 jobs and spur $7.5 million in private investment.
“This investment will ensure that the city of Hidalgo has the infrastructure it needs to weather future storms,” said Congressman Vicente Gonzalez. “As our local economy confronts new and unprecedented challenges like natural disasters and the coronavirus, the ability to make these important upgrades is all the more important. I will continue to push for additional funds that will empower South Texas to continue being an epicenter for international trade and economic growth.”
“In spite of the health pandemic, which we are all battling, Congressman Vicente Gonzalez continues to monitor and mobilize funding for our communities infrastructure needs,” said Mayor Sergio Coronado, City of Hidalgo. “Thank you Congressman Gonzalez for all of your assistance in our Economic Development and Community projects and for your continued support of our regional EDA office and staff.”
This project was made possible by the regional planning efforts led by the Lower Rio Grande Valley Development Council (LRGVDC). EDA funds LRGVDC 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.
The funding announced today goes to one of Texas’ 628 Opportunity Zones. In June 2019, EDA added Opportunity Zones as an Investment Priority, which increases the number of catalytic Opportunity Zone-related projects that EDA can fund to fuel greater public investment in these areas. To learn more about the Commerce Department’s work in Opportunity Zones, please visit EDA’s Opportunity Zones webpage. To learn more about the Opportunity Zone program, see the Opportunity Now resources page here.
This project is funded by the Additional Supplemental Appropriations for Disaster Relief Act of 2019 (Pub. L. 116-20) (PDF), which provided EDA with $600 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas affected by Hurricanes Florence, Michael, and Lane, Typhoons Yutu and Mangkhut, wildfires, volcanic eruptions, and other major natural disasters occurring in calendar year 2018, and tornadoes and floods occurring in calendar year 2019, under the Robert T. Stafford Act. Please visit EDA’s Disaster Supplemental webpage.
