U.S. Department of Commerce Invests in Growth of Manufacturing Sector in Ludlow
LUDLOW — U.S. Secretary of Commerce Wilbur Ross announced that the department’s Economic Development Administration (EDA) is investing $3.1 million in the town of Ludlow to help support of the growth of local manufacturing by improving Riverside Drive. The project, to be matched with $3.1 million in local funds, is located in a Tax Cuts and Jobs Act-designated Opportunity Zone and is expected to create more than 950 jobs and generate more than $90.6 million in private investment.
“Improving Riverside Drive will support the needs of larger commercial and industrial users, which require reliable water and sanitary sewer systems, as well as electric and communication services, to be competitive in the regional and global economy,” Ross said. “The Tax Cuts and Jobs Act Opportunity Zone designation will further incentives businesses to invest in the area and develop the local economy.”
U.S. Rep. Richard Neal noted that the investment will bring the Riverside Drive project at Ludlow Mills one step closer to completion. “I have visited the site many times and know how important this federal investment is to the town of Ludlow. The transformation of the former mill on the Chicopee River has been impressive, and I am pleased to have been an enthusiastic supporter of this business and housing venture from the start.”
The Riverside Drive improvement project will include construction of approximately 4,500 feet of public roadway, including water and sewer lines and underground utilities, to provide safe and adequate access to new manufacturing space within Ludlow’s industrial area.
This project was made possible by the regional planning efforts led by the Pioneer Valley Planning Commission (PVPC). EDA funds the PVPC to bring together the public and private sectors to create an economic -development road map to strengthen the regional economy, support private capital investment, and create jobs.