WASHINGTON—U.S. Secretary of Commerce Carlos M. Gutierrez today announced that the Commerce Department’s Economic Development Administration (EDA) will provide the State of Louisiana $9,313,500 in federal funds to assist with the economic recovery of communities affected by Hurricane Gustav.
“The Administration is committed to boosting Louisiana’s commerce and quality of life in the wake of Hurricane Gustav,” Gutierrez said. “This $9.3 million in Economic Development Administration funding will help Louisiana communities fortify their economic development planning efforts and provide the business development assistance and infrastructure improvements needed to build a stronger, more disaster resistant economy.” “This $9.3 million commitment from EDA is a positive step in assisting our communities as they recover from Hurricanes Gustav and Ike, and will help expand our state’s capacity for future economic growth,” said Governor Bobby Jindal. “Of course, we have many more recovery needs at this time and we will continue to seek the assistance our communities need to help get people and businesses back on their feet.” “The EDA has been a generous partner to the State of Louisiana, investing $35 million in more than 60 projects since 2005,” said Louisiana Economic Development Secretary Stephen Moret. “These grants have helped to create jobs and private investment. We thank the EDA and the U.S. Department of Commerce for their continued commitment to the economy and people of Louisiana.” The investments include: EDA played an active role in previous disasters such as the Midwest Floods of 1993 and 1997, Hurricane Floyd in 2000, the Florida hurricanes of 2004, and the 2005 Gulf Coast hurricanes.
Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov/.
Source: U.S. Department of Commerce
