TexAmericas Center Secures EDA Grant to Enhance Rail Services
Texarkana, USA (July 22, 2021) – TexAmericas Center has been awarded an $864,550 grant from the U.S. Department of Commerce’s Economic Development Administration (EDA) to construct new rail facilities and refurbish those currently in operation. The EDA grant, which will match with $216,138 in local investment, is expected to create 157 jobs, retain five positions, and generate $250,000 in private investment.
TexAmericas Center currently owns, operates, and maintains 36 miles of rail located onsite for their tenants to leverage their logistical needs. Texarkana is a major east-west and north-south rail center, with seven rail lines converging in the region and over 125 trains passing through the community per day. TexAmericas Center also provides tenants with a 12-car transload facility and rail car storage, and 24/7 switching and movement services.
“As TexAmericas Center continues to grow and expand our facilities, having the best-equipped facilities available for our current and future tenants will be paramount to encouraging continued growth,” said Scott Norton, CEO and Executive Director of TexAmericas Center. “Since more shippers are likely considering rail transportation as a viable alternative to trucking amid the national truck driver shortage, this EDA grant will significantly help us build upon and further enhance our already extensive rail services to meet this anticipated increase in rail demand, which will, in turn, help us retain current and attract new businesses to the region.”
This project was made possible by the regional planning efforts led by Northeast Texas Economic Development District (NETEDD). EDA funds NETEDD to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs.
“The Economic Development Administration plays an important role in helping communities implement their plans to provide the vital infrastructure that businesses need to be successful,” said Jorge Ayala, Director of EDA’s Austin Office. “This EDA investment will design and build critical rail infrastructure to support the growth of industrial and commercial businesses within TexAmericas Center, leading to additional job opportunities and a stronger regional economy.”
“As we unleash the full might of the Texas economy, we must continue to find new ways to support and develop businesses across our state,” said Governor Greg Abbott. “I thank the Economic Development Administration for its investment in TexAmericas Center in New Boston, which will create more jobs and bolster economic opportunity in the community for generations of Texans, both present and future.”
“While Texans persevere as COVID-19 wreaks havoc on our state, we must take steps to ensure that our communities are equipped to weather the storm,” said Senator John Cornyn. “I applaud this announcement and will continue to do everything I can to make economic growth across Texas a high priority.”
The EDA’s investment in rail services is part of TexAmerica’s long-term strategy to attract new business to the region and encourage continued economic growth. TexAmericas Center also recently announced the extension of its SBA HUBZone Designation until June 2023, which will offer an added incentive for firms doing business with the federal government to consider establishing and expanding operations in the Texarkana region. Additionally, to accommodate an expected increase in demand for industrial space among its current and prospective tenants, TexAmericas Center is constructing a 150,000 square-foot spec building scheduled to be completed in August 2021.
To learn more about TexAmericas Center’s rail services and the EDA grant and how it will positively impact rail services for current and future tenants, visit www.texamericascenter.com.
About TexAmericas Center
Located in the Texarkana metropolitan area, TexAmericas Center owns and operates one of the largest mixed-use industrial parks in the United States. With roughly 12,000 development-ready acres of land and about 3.5 million square feet of commercial and industrial product, TexAmericas Center services four states (Arkansas, Louisiana, Oklahoma, and Texas). In 2020, TexAmericas Center was ranked as the #8 industrial park by Business Facilities magazine. In addition, it is a designated U.S. Opportunity Zone, HUBZone, New Market Tax Credit Census Tract, Foreign Trade Zone #258, and a Texas Enterprise Zone. TexAmericas Center has the operating capabilities but functions like a traditional real estate development company, offering customized real estate solutions. For more information about TexAmericas Center, visit texamericascenter.com.
About the U.S. Economic Development Administration
The U.S. Economic Development Administration’s (EDA) mission 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. It supports regional collaboration to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth. For more information about the EDA, visit www.eda.gov.