U.S. Commerce Department Invests $1 Million to Help Businesses in Maryland and Puerto Rico Boost their Global Competitiveness
April 19, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced more than $1.2 million in grants that will support job creation and advance the economic competitiveness of small- and medium-sized businesses in Maryland and Puerto Rico by providing them with the tools they need to compete in the global economy.
"The Obama administration is committed to helping main street businesses create jobs and increase their global competitiveness," Locke said. "These EDA grants will support new jobs and stronger industries in Maryland and Puerto Rico by fostering business development and growth."
In Puerto Rico, EDA will award $652,000 to the Turabo Institute for Exports and Economic Development, through the Ana G. Mendez University system's University of Turabo, to provide technical export assistance to small- and medium-sized firms. The grant will promote growth and economic competitiveness by helping current exporters and those looking to export to identify new business markets and develop global business strategies.
In Maryland, EDA will award $607,000 to the County Council of Dorchester County, Md., to assist in the renovation of a green manufacturing facility. Funded through EDA's Global Climate Mitigation Fund, this grant will support the manufacturing of a green-end product that will divert an estimated 1.5 million tons of non-recyclable products from landfills to recycling facilities and the reduction of approximately 100,000 metric tons of CO2 emissions annually. The project will result in the retention of more than 102 jobs and generate up to $7 million in private investment, according to grantee estimates.
The Obama Administration has demonstrated an unprecedented commitment to revitalizing domestic manufacturing and strengthening our nation's small businesses through investments in the Recovery Act and STEM education, and initiatives including businesses' full expensing of capital investments, the Small Business Lending Fund, and the National Export Initiative, which aims to double U.S. exports by 2015.
About the U.S. Economic Development Administration:
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation and accelerate long-term sustainable economic growth.