Paving the way to Milwaukee Tool’s state-of-the-art accessories manufacturing facility currently under construction in the I-55 Business and Technology Park in Grenada began months before the 563,000-square-foot facility was announced.
Today, 14 months after the leading manufacturer of heavy-duty power tools, hand tools, storage and accessories for professional construction trades worldwide announced its decision to grow in Grenada County, funding for construction of the road leading to the facility has been made available.
U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) has awarded the Grenada County Board of Supervisors a $5.3 million grant to “bolster the region’s technology sector by improving access to Grenada Technology Park North” off MS Hwy. 7.
“We are so grateful that EDA saw the enormous opportunity to further their investment in Grenada County,” Greater Grenada Partnership CEO Matthew Harrison said following the announcement. “These grants have always been very competitive and highly sought after among growing communities. With the announcement of Milwaukee Tool and other industrial prospects, we felt we had a great opportunity of being selected as a finalist in this round of grant applications.
This EDA project will help fund construction of a four-lane access road into Grenada Technology Park North to accommodate existing business needs, while helping attract new businesses to the park. This EDA grant will be matched with $2.6 million in local funds and is expected to create 800 jobs, retain 1,100 jobs and generate $60 million in private investment, according to grantee estimates.
“The Economic Development Administration is pleased to support Grenada as they work to grow their region’s economy,” Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo said. “This EDA investment will provide enhanced access to the local technology park, giving existing businesses the infrastructure capacity they need to grow and thrive.”
For more on this story, see next week’s edition of The Grenada Star.
