Contact: Rob Ostrander 202.224.7627 Shana Stribling 202.224.0309
Wednesday, June 23, 2004

WASHINGTON – U.S. Senator Kit Bond has announced that major initiatives he is pushing that will create jobs and improve Missouri's waterways cleared an important Senate hurdle today.

On Wednesday, the Senate Environment and Public Works Committee passed the Water Resources Development Act, which includes Bond's bill to modernize locks on the upper Mississippi River and the Economic Development Administration re-authorization bill.

Bond's bipartisan legislation to modernize the Mississippi and Illinois River lock and dam system, passed by the full committee today, authorizes $2.3 billion for seven new locks, including $1.46 billion for ecosystem restoration.

"By investing in the locks today, we are securing our region's economic future for tomorrow," said Bond. "Modernizing our lock and dam system will produce economic benefits now, including providing 48 million man-hours of construction work. This project will make U.S. producers more efficient and more competitive, while protecting jobs here at home."

Bond, who chairs the Transportation and Infrastructure Subcommittee, said it is important to improve the aging lock and dam system in order to maintain the 1,000 miles of Missouri and Mississippi River shoreline and inland ports, which serve as Missouri’s arteries to world markets.

The committee also passed the re-authorization of the Economic Development Administration Act (EDA). The agency provides grants for infrastructure and business development to help communities fight unemployment and in economically distressed areas.

"The Economic Development Administration plays a critical role in revitalizing local economies. With the right federal investments we can turn our struggling towns and cities across the nation into magnets for job growth," said Bond, adding that EDA's assistance in Missouri has been critical to local investment and economic growth.

Over the last decade in Missouri, EDA has implemented over 300 projects and invested more than $115 million in the state’s economy, said Bond. Since 1998, EDA funds have led to the creation of over 5,000 jobs in Missouri.