U.S. Department of Commerce invests $3.2 million in U.S. bailout funds to support tourism in Wildwood, New Jersey

U.S. Department of Commerce invests $3.2 million in U.S. bailout funds to support tourism in Wildwood, New Jersey

WASHINGTON — Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is providing a $3.2 million grant to the city of Wildwood, New Jersey, for the reconstruction of two and a half blocks of promenade space. This grant is funded by the American Rescue Plan.

This project will support structural repairs to the Wildwood Boardwalk, including replacement of lumber, concrete carriage beams and slabs, and new ramps and stairs, welcoming visitors to a city with a strong tourism economy. This EDA grant will be matched with $845,000 in local funds and is expected to create 109 jobs and generate $6 million in private investment.

“President Biden is committed to harnessing the full power of the federal government to ensure that our nation not only recovers from this pandemic, but builds a better America in the process,” Commerce Secretary Gina M. Raimondo said. “This EDA investment will increase local tourism as an economic driver of pandemic response and recovery efforts.”

“The travel and tourism industry is a critical economic driver for many local economies across the country,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project will support local tourism, which is an important part of the regional economy.

“Tourism has always played an important role in New Jersey’s economy, especially in our coastal towns,” Governor Phil Murphy said. “This federal funding, in addition to the $4 million our administration has distributed this fiscal year and the additional $4 million for the Wildwood Parkway in my proposed budget, will not only help create jobs and strengthen local tourism, but will also ensure residents and visitors can continue to enjoy this historic landmark for years to come. I thank President Biden’s administration and the U.S. Department of Commerce’s Economic Development Administration for this investment in our state.

“The tourism industry is vital to the Jersey Shore and its economy,” said Sen. Bob Menendez. “These federal funds will create well-paying jobs, boost the local economy and ensure Wildwood has the resources to welcome tourists to its great city. I was proud to have worked hard to secure these funds and push through the US bailout and thank President Biden for his commitment to South Jersey’s success.

“More than a year after the US bailout was enacted, critical legislation continues to provide federal funding to New Jersey communities to use for vital projects,” Sen. Cory Booker said. “This latest investment will help improve the existing infrastructure of Wildwood’s iconic boardwalk, creating jobs while improving the quality of life for residents and tourists.”

This project is funded through the EDA’s competitive $240 million American Rescue Plan Travel, Tourism, and Outdoor Recreation program. The EDA has awarded $510 million in grants to all 50 states and territories in 2021. Both programs are designed to accelerate the recovery of communities that depend on the travel, tourism, and outdoor recreation sectors.

About the United States Economic Development Administration (www.eda.gov)
The mission of the United States Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing regions across the country for growth and success in the global economy. An agency of the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration to create jobs for American workers, promote American innovation, and accelerate long-term sustainable economic growth.

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