Billings, MT – U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $4.6 million grant to Yellowstone County for water and sewer infrastructure improvements to support business development and disaster resiliency in the region.
This grant will provide critical water and sewer infrastructure to the Lockwood TEDD to spur economic development in an area impacted by 2021-2022 storms and flooding. The EDA investment will be matched with $1.1 million in local funds. This project will extend water and sewer service under Interstate 90 in conjunction with the Johnson Lane Interchange reconstruction, allowing easier connection for development in the area.
The Lockwood TEDD was created by the Yellowstone County Commissioners in 2016 to foster secondary, value-adding manufacturing in the region, creating good paying jobs and a stronger tax base. The TEDD allows for the use of tax increment financing to help offset the cost of public infrastructure that serves the district. “We are grateful to the Economic Development Administration for this grant and the tremendous opportunity it provides,” said Yellowstone County Commissioner John Ostlund. “Yellowstone County and our partners at Big Sky Economic Development and Lockwood Water & Sewer District now have the means to implement the critical infrastructure needed to begin additional planned development in this emerging area.”
“This EDA investment will ensure that Yellowstone County has the infrastructure needed to attract new businesses in critical industries and create good-paying jobs in the region.” said Secretary of Commerce Gina Raimondo. Deputy Assistant Secretary for Policy and External Affairs Cristina Killingsworth added, “This project will provide the foundation for Yellowstone Country to encourage industrial and manufacturing business development and increase disaster resiliency for the region.”
This project was made possible by regional planning efforts led by Beartooth Resource Conservation & Development Area, Inc. (Beartooth RC&D). Beartooth RC&D brings 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.