U.S. EDA Investments Support Job Creation Efforts in California
June 23, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced more than $513,122 in grants to boost competitiveness and create jobs in California.
"The Obama administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," said U.S. Assistant Secretary of Commerce for Economic Development John Fernandez. "These EDA grants will help to bring jobs and economic growth to California by increasing access to capital for businesses in underserved regions, promoting export opportunities and by helping to diversify local economies.
The investments announced today include:
- $250,000 to the California Association for Local Economic Development (CALED) of Sacramento to perform work that will help improve underserved communities' access to financial capital, facilitate direct investment by employers into underserved communities, and identify under-utilized regional innovation networks. Project tasks will include the identification of non-federally funded Revolving Loan Fund programs, development of an online system to link borrowers and lenders, identification of entities to participate in an innovation network, and development of an online system for use by innovation network participants.
"Harnessing innovation activity in California along with addressing issues with access to capital for business are two statewide issues that can make a significant difference in helping rebound the state's economy," said Gurbax Sahota, Chief Operating Officer, California Association for Local Economic Development.
- $200,872 to the State Center Community College District of Fresno to develop a technical assistance and an agricultural product export training program to support the purchase of local goods, as well as the export of agricultural commodities abroad.
"The RURAL project will retain and add jobs by increasing export sales of small and medium sized businesses," said Candy Hansen-Gage, Director, Center for International Trade Development of the State Center Community College District.
- • $62,250 to the city of Chico to help develop an economic recovery strategy, including property valuation, asset examination, environmental assessment, and preparation of a marketing strategy, to reverse the negative impact of the departure of a major employer in the area.
"This project will have a regional economic impact and benefit the city of Chico. By determining an accurate market value of the vacant buildings and making the necessary improvements, the city can them actively market those properties," said David Burkland, City Manager, City of Chico.
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.