Durbin Announces $750,000 in Recovery Act Funding for Rock Island Disaster Recovery

[WASHINGTON, D.C.] – Assistant Senate Majority Leader Dick Durbin (D-IL) today announced that the Economic Development Administration (EDA) has invested $750,000 in the Bi-State Regional Commission’s Disaster Recovery Project, which operates in Rock Island, Illinois. This investment, funded through the American Recovery and Reinvestment Act, will create a new revolving loan fund to serve small businesses in Mercer County, Illinois, and Muscatine County, Iowa and is expected to create 64 jobs and an additional $2 million in private investments.

“Today’s Recovery Act funding will help strengthen economic growth, spur private investment and create good paying jobs in the Quad Cities region,” said Durbin.

EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.