Austin Awarded $2.2 Million American Rescue Plan Grant
Austin, MN (KROC-AM News) - The City of Austin has been awarded a $2.2 million federal grant.
The US Department of Commerce today announced the Economic Development Administration has allocated the money to Austin to help pay for infrastructure upgrades at the Creekside Business Park. A news release says the grant is funded by the American Rescue Plan through the Economic Development Administration.
The news release indicates the grant will be used for the development of a 57-acre parcel at the business park and will require a $2.2 million local funding match. In applying for the grant, the City of Austin estimated business park upgrades would create a total of 200 jobs, 50 retained jobs, and generate $200 million in private investment by bringing in new business and job opportunities.
The new business Park is located along Highway 218 next to Murphy Creek on the north edge of Austin. The federal grant applies to infrastructure improvements covering about half of the 120-acre site.