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Gaffney Crypto Startup Gears Up For Additional $280 Million Investment

U.S. DEPARTMENT OF COMMERCE INVESTS $3.3 MILLION IN AMERICAN RESCUE PLAN FUNDS TO BOOST TOURISM-RELATED BUSINESS AND JOB GROWTH IN GAFFNEY, SOUTH CAROLINA

WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3.3 million grant to the city of Gaffney, South Carolina, to create a new Revolutionary War Discovery Center and revitalize the local tourism industry. This grant is funded by the American Rescue Plan.

This project will boost the local tourism industry by bringing new visitors to the city, its businesses, and attractions. This EDA grant will be matched with $2 million in local funds.

“President Biden is committed to harnessing the full power of the federal government to ensure our nation not only recovers from this pandemic but builds a better America,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will boost Cherokee County’s critical tourism and hospitality industries while building resiliency in the region’s economy.”

“The travel and tourism industry is the linchpin of many local economies across the country,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “We are pleased to support Gaffney’s strategy to bring new businesses and jobs to the region by transforming the former Carnegie Free Library into a Revolutionary War Discovery Center that will highlight the region’s contributions to the American Revolution.”

“Between Kings Mountain State Park and Cowpens National Battlefield, there’s such a rich collection of Revolutionary War history in our region,” said Congressman Ralph Norman (SC-05). “This makes Gaffney the ideal location for a new Revolutionary War Discovery Center, and I cannot wait to see this endeavor come to fruition. Not only will it benefit tourism in Cherokee County, but it will also help preserve our nation’s history and story for generations to come.”

This project was made possible by the regional planning efforts led by the South Carolina Appalachian Council of Governments (SCACOG). EDA funds SCACOG to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.

This project is funded under EDA’s $240 million competitive American Rescue Plan Travel, Tourism, and Outdoor Recreation program. EDA awarded $510 million in grants to all 50 states and territories in 2021. The two programs are designed to accelerate the recovery of communities that rely on the travel, tourism and outdoor recreation sectors.

About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.