U.S. EDA Grant Supports Entrepreneurship in Kentucky
August 26, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $30,000 grant to Pennyrile Area Development District of Hopkinsville, Ky., to help implement strategies geared toward strengthening the region's entrepreneurial infrastructure.
"Creating local jobs is President Obama's top priority and he has taken significant steps to support entrepreneurs and small businesses, which are the backbone of our economy and the cornerstone of our communities. Economic recovery and growth are top priorities for the Obama Administration," said U.S. Assistant Secretary of Commerce for Economic Development John Fernandez. "This EDA grant will boost entrepreneurship in the region by fostering networking and collaboration with the region's institutes of higher education."
"This project builds upon a previous EDA-funded feasibility study that indicated that self-employed entrepreneurs are creating jobs 2-3 times faster in this region than the rest of the private sector. This project will assist the emerging entrepreneurs with the infrastructure necessary to transform into growing small businesses," said Chris Sutton, Executive Director of the Pennyrile Area Development District.
This EDA grant will provide emerging entrepreneurs with the assistance they need to transform into growing small businesses. The project will establish the Pennyrile Entrepreneur Network, create entrepreneurial centers at the local community colleges, and create a strong foundation of entrepreneurial support infrastructure.
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.