US Department of Commerce to invest $2.7M to support business growth in Perryton

PERRYTON, Texas (KAMR/KCIT) — The US Secretary of Commerce Gina Raimondo announced Friday that the Department’s Economic Development Administration (EDA) is awarding a $2.7 million grant to the city of Perryton to support business growth following natural disasters in the region.

The EDA said the grant will create the Rebuild Perryton Incubator, converting an existing building into commercial space for local businesses impacted by recent tornadoes. This EDA investment will be matched with $625,000 in local funds.

“This EDA investment will support businesses in Perryton as they work to come back from recent tornadoes – creating jobs and strengthening the regional economy in the process,” said Secretary of Commerce Gina Raimondo.

“The Economic Development Administration works closely with local communities to support place-based economic growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This investment in Perryton will allow businesses to grow and thrive following natural disasters, supporting a resilient economy that benefits Texans throughout the region.”

The project is funded under the Disaster Relief Supplemental Appropriations Act 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program. Officials said 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 said the EDA.

More information can be found on the EDA’s Disaster Supplemental webpage.