U.S. Commerce Secretary Gary Locke Announces $4.7 Million Recovery Act Grant to Create Jobs, Boost Development in Santa Cruz, California
September 22, 2009
Contact: Bryan Borlik, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $4.7 million Economic Development Administration (EDA) grant to the city of Santa Cruz (Calif.) Redevelopment Agency to help renovate the historic Tanyard Building and Beam House for use as a Digital Media Center business incubator. The project, made possible because of the American Recovery and Reinvestment Act of 2009 (ARRA), is expected to create additional jobs and private investment in the region.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," Locke said. "This grant will help create new jobs and boost private investment in the Santa Cruz region by providing entrepreneurs in the digital media field with the space and technical assistance they need to grow and create new higher-skill, higher-wage job opportunities."
The Recovery Act was signed into law by President Obama on February 17, 2009. It is providing immediate relief for American families and jump-starting billions of dollars in new projects that are creating jobs, improving infrastructure and strengthening local economies.
"I am so pleased that the Santa Cruz community will receive this grant to help create a business incubator," U.S. Sen. Barbara Boxer said. This funding will create jobs and boost the region's economy, and it could not come at a more critical time."
"It became clear at the beginning of the year that if we're going to pull our economy out of this slump, we have to start at the local level. Development grants like the one Santa Cruz is receiving through the Recovery Act are going to create the jobs and offer the capital that our communities need to really jumpstart a serious economic upturn," U.S. Rep. Sam Farr said.
The Department of Commerce is a voice for Main Street businesses. It focuses on creating jobs by fostering innovation and opening markets to U.S. products.
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.