Kennedy, Kerry, neal announce $995,000 grant for city of Springfield
Funds to Be Used to Develop Memorial Industrial Park II
WASHINGTON, DC - Senator Edward M. Kennedy, Senator John F. Kerry, and Congressman Richard E. Neal announced today that the Department of Commerce has approved an application submitted by the City of Springfield, the Springfield Redevelopment Authority, and the Springfield Water and Sewer Commission for $995,000 in economic development funds to assist with the development of the Springfield Memorial Industrial Park II. This project is expected to attract more than $25 million in private investment, and create 142 jobs.
"Mayor Ryan and Springfield should be commended for such a creative proposal that will create jobs and attract substantial investment," Senator Kennedy said. "The competition for these economic development funds is fierce, and today's announcement is a well-deserved recognition of the City's hard work."
"This is a great investment in Springfield. It's going to create good-paying jobs and attract millions in private investment" Senator Kerry said. "I am proud to have worked with Senator Kennedy, Congressman Neal and Mayor Ryan to help make this happen."
"I am delighted with this good news. I would like to acknowledge the hard work of Senator Kennedy, Senator Kerry and Congressman Neal in helping to secure this federal grant. Today's announcement represents a very important step forward in the development of the Smith & Wesson track, " said Mayor Charles V. Ryan.
"The successful development of the Memorial Industrial Park is critical to the future of Springfield's economy. These funds from the Commerce Department will make a sizeable investment in this important project. This economic development initiative will certainly bring new jobs to the City of Springfield," said Congressman Richard E. Neal.
The 86-acre industrial park project located on Roosevelt Avenue in Springfield recently announced its first tenant, Performance Food Group of Virginia, a Fortune 500 Company. The Memorial Industrial Park II is adjacent to the Smith & Wesson plant which sold the property for $1.75 million in 2002.