Press Release

U.S. Economic Development Administration Invests $312,000 to Help Diversify and Grow the Eastern Kentucky Economy

Contact: Public Affairs Department, (202) 482-4085
Monday, July 7, 2014

WASHINGTON — The U.S. Commerce Department’s Economic Development Administration (EDA) today announced a $312,000 grant to the Big Sandy Area Development District of Prestonsburg, Kentucky. The grant will provide facilitation, promotion, information sharing, and support services to advance the Shaping Our Appalachian Region (SOAR) initiative, which seeks an integrated and collaborative approach to diversify eastern Kentucky’s economy.

“EDA is pleased to support the collaborative SOAR initiative,” said Assistant Secretary of Commerce for Economic Development Jay Williams. “This vital EDA assistance will help SOAR in its mission to help eastern Kentucky capitalize on its strengths to diversify, innovate and implement job-creating diversification strategies.”

The EDA investment will support implementation and technical assistance by a consortium of nine Area Development Districts located in eastern Kentucky to diversify the region economy. The 54-county region encompasses all Appalachian Regional Commission served counties in eastern Kentucky.

About the U.S. Economic Development Administration (www.eda.gov)
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.