U.S. Commerce Secretary Gary Locke today announced an additional $19.5 million in Economic Development Administration (EDA) investments to aid the ongoing economic recovery following the devastation caused last year by hurricanes Ike and Gustav.
Last week, the Obama Administration announced $20.9 million of investments for the Gulf Coast region to assist in the recovery.
“The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation’s competitiveness,” Locke said. “Hurricanes Ike and Gustav devastated the Gulf Coast region. These investments will enhance the region’s competiveness, improve productivity and create jobs.
“These grants show President Obama’s continued commitment to working with the Gulf Coast region to assure that the business community is rebuilt and critical jobs are restored.” The investments announced today include: EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States.Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.
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
