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A bureau within the U.S. Department of Commerce


Press Release

U.S. EDA Supports Entrepreneurship in Jacksonville, Florida

WASHINGTON - The U.S. Economic Development Administration (EDA) today announced a $472,000 grant to Fresh Ministries, Inc. and Core City Business Incubators, Inc. of Jacksonville, Fla., to expand the Beaver Street Enterprise Center business incubator to create additional office and entrepreneurial training space. In 2002, EDA invested $850,000 to help construct this business incubator facility.

"This EDA grant will work to advance the Obama administration's National Innovation Policy by fostering new businesses and accelerating innovation and entrepreneurship in the region," said U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez. "This project will facilitate entrepreneurial development and small business start-ups by expanding the Beaver Street Enterprise Center, a core city business incubator supporting the creation of technology-based jobs and economic diversification in Jacksonville."

"Any economic recovery usually begins with small business. That is what is coming out of Beaver Street and that is what will come out of this new expansion. The companies are targeted to create more than 100 new jobs over the next three years with 30% of these targeted as jobs for low-moderate income workers who will be placed in high wage jobs," said Jacqulyn Perry, Executive Director, Core City Business Incubators, Inc.

This project is funded through EDA's Global Climate Change Mitigation Incentive Fund, which is intended to foster the green economy by promoting economic competitiveness while enhancing environmental quality. The Phase II expansion of the Enterprise Center will meet Leadership in Energy and Environmental Design (LEED) certification standards and add approximately 13,000 square feet and ten new office suites along with a conference center, to the existing capability of the incubator.

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.