DOC  invests $4 million in American Rescue plan funds to boost Rexburg entrepreneurship

The Department of Commerce has announced it is awarding $4 million grant to E-Central Idaho P & DA for Rexburg. The money will pay for a facility at the Teton River Business Center. 

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On Tuesday the U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $4 million grant to E-Central Idaho P & DA, Inc. (ECIPDA), Rexburg, Idaho, to make infrastructure improvements needed to support entrepreneurs. This grant is funded by the American Rescue Plan.

This grant will support construction of a new, two-story facility at the Teton River Business Center that will provide operating space for entrepreneurs and startup businesses to spark job-creating economic activity in the area. The EDA investment will be matched with $2.5 million in local funds and is expected to create or retain 115 jobs and generate $2 million in private investment, according to grantee estimates.

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