Bost Announces Granite City Economic Development Grant
Washington, D.C. – U.S. Representative Mike Bost today announced a $2.27 million Economic Development Administration grant for construction of a new rail line at America’s Central Port in Granite City. The rail construction will enhance the link between area manufactures and the nation’s freight transportation network and boost the region’s economic readiness and competitiveness.
“Good news keeps rolling in for Granite City,” said Representative Mike Bost. “In addition to the 800 new steel jobs, this grant will amplify economic growth in Madison County and the Metro East region. America’s Central Port supports over 1,000 jobs and has a massive economic impact. Our community stands to benefit as the port continues to expand through both private investment and grants like this.”
The Economic Development Administration (EDA) grant totals $2,272,895. The total project cost is $3,270,000. 16 jobs are anticipated to be created, 32 jobs will be saved, and $1.2 million in private investment is expected to be leveraged because of the grant.