A $587,395 grant from the Economic Development Administration will support Recinto Universitario Mayaguez in Mayaguez, Puerto Rico, with the island’s economic development initiatives.
American Rescue Plan funding will support 20 non-governmental organizations in Puerto Rico, according to an Aug. 10 Department of Commerce news release.
“The Economic Development Administration is pleased to support locally-driven strategies that are supporting businesses and creating jobs in Puerto Rico,” Assistant Secretary of Commerce for Economic Development Alejandra Castillo said in the release.
The participating businesses’ administrative and financial capabilities will be strengthened through this project, which will also offer the training required for future job growth, the release reported. According to grantee projections, this EDA grant will result in 54 new jobs and $1 million in private investment when matched with $148,478 in municipal money.
Puerto Rico Gov. Pedro Pierluisi said the award shows the Biden administration’s commitment to the U.S. commonwealth’s economic development through support of the University of Puerto Rico, Mayaguez campus, the release said.
“This grant will provide the technical capacity necessary to boost economic development through job creation and new investment,” Peirluisi said in the release. “We thank the U.S. Department of Commerce for their commitment to the long-term economic recovery of Puerto Rico.”
