Madison’s LAIC receiving EDA Grant

Madison’s Lakeview Industrial Park is home to several new and expanding businesses providing a variety of services to the community.

 

An opportunity recently presented itself to the Lake Area Improvement Corporation for grant funding to assist with necessary infrastructure costs to further support business development in the industrial park.

 

The LAIC applied for a grant through the U.S. Department of Commerce’s Economic Development Administration (EDA) on behalf of the City of Madison. Typically, the city would not be eligible for the grant due to income guidelines. However, because of the recent derecho, the city was declared a disaster area, making them eligible.

 

The result was the city being awarded $3.6 million in an EDA grant.

 

The grant opportunity was made possible by Global Polymer’s expansion, resulting in the creation and retention of jobs and an investment in private capital.

 

The funded project consists of new street construction including water main, sanitary sewer and storm sewer for 16th Street SE and Industry Avenue.

 

Additionally, 800 feet of existing roadway adjacent to the industrial park will be reconstructed to

improve access and safety. The Washington Avenue and 12th Street SE intersection will be widened and have turn lanes added.