The Economic Development Administration (EDA) invested $4.2m in the city of Allegan, Mich., in a project aimed to help upgrade the city’s water treatment capacity to serve an expanding cluster of pharmaceutical manufacturers and attract high-tech businesses.
According to an official statement from the EDA, which is the agency within the U.S. Commerce Department that supports the economic development needs of distressed communities throughout the United States, the project is expected to create 900 jobs and generate $50m in private investment.
FinSMEs
18/09/2009