SALT LAKE CITY — Millions of dollars in federal money were granted to a local Utah college Tuesday with the goal of supporting the Agricultural program and encouraging entrepreneurship.
The U.S. Department of Commerce's Economic Development Administration (EDA) awarded a $2.4 million grant to the college, and funding was furthered by $600,000 of local money.
In a release Tuesday, the EDA said the grant will, "help diversify the regional economy by building the Innovative Agricultural Center."
The money will also provide training and opportunities to promote "economic diversification" in an area that has been impacted by the declining use of coal, officials explained in a release.
“The Economic Development Administration is pleased to support locally-driven strategies to boost economic recovery efforts,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo in a statement. “EDA is proud to support this effort to provide new workforce training opportunities in a state impacted by the declining use of coal that will build regional resiliency and ensure economic prosperity.”
In total, 157 jobs will be created thanks to the funding, and 168 jobs will be retained, officials report. In addition, the grant will generate an estimated $60 million in private investment.
The grant money came from the $300 million allocated to the EDA as part of their "coal communities commitment." That money came from President Biden's "American Rescue Plan."
