NEW ALBANY, Ind. (AP) — A southern Indiana county has landed a $3 million federal grant for construction of a road that will serve a planned high-tech industrial park.
The funding from the U.S. Department of Commerce must be matched with $3 million in local investment for the road's construction.
Floyd County's commissioners say the grant will help the county expand its industrial base by accommodating high-tech businesses at the Floyd County Tech Park. The road will also mitigate the impact of flooding in the Ohio River county.
U.S. Sen. Todd Young says the grant will provide "critical support" for the industrial park that will cater to high-tech businesses, including spaceflight systems manufacturers.
Officials say the federal grant for the road's construction is expected to spur $10 million in private investment and create 50 jobs.
