U.S. Commerce Secretary Gary Locke Announces $3.75 Million Grant to Create Jobs, Strengthen Economy in Los Angeles, California
September 22, 2009
Contact: Bryan Borlik, (202) 482-4085
EDA Grant Expected to Create 324 Jobs and Generate $1 Million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $3.75 million Economic Development Administration (EDA) grant to the San Fernando Valley Small Business Development Corporation of Los Angeles, Calif., to help build the Pacoima Entrepreneurship and Training Center, a small business incubator and training facility. The project is expected to create 324 jobs and generate $1 million in private investment, according to grantee estimates.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," Locke said. "This grant will establish a business incubator and jobs training facility in the San Fernando Valley that will foster new entrepreneurial ventures and provide local workers with the skills they need to compete for higher-skill, higher-wage job opportunities."
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.