The EPA has announced $10.7 million that will be available fiscal year ’16 to provide supplemental funding for 33 successful Revolving Loan Fund (RLF) grantees. RLF’s supply funding for loans and sub-grants to carry out cleanup activities at Brownfield sites. These funds help maintain momentum so more cleanups can be completed.
In the EPA news release, Mathy Stanislaus, the assistant administrator for EPA’s Office of Land and Emergency Management stated, “These funds – going to communities who have already achieved success in their work to clean up and redevelop brownfield sites – will help revitalize distressed communities, improve public health, encourage innovation, and boost local manufacturing opportunities.” With over 40 communities getting prepared to receive projects to redevelop brownfield properties, jobs are going to be established as well.
The redevelopment process of the brownfield sites does not only improve communities, but it also generates additional space for commercial businesses, as well as revenue for local governments. One project alone will provide housing for 140 individuals and create over 100 permanent jobs.
The EPA did not stop here because when they calculated the total amount of jobs that were established from these projects, approximately 109,000 jobs were created throughout the whole United States. They are not only creating a safer environment for the local population, but creating jobs for them as well.
With a discovery of 450,000 brownfield sites across the United States, the EPA continues to invest in the redevelopment of these sites. The value of properties around these sites increased approximately 15 percent once they are cleaned up. Local governments are also accumulating revenue through taxes which range from $29 to $97 million in one year, just from 48 different brownfield sites.