Success Stories

With a focus on rural communities, a venture fund in western Colorado is helping to create new opportunities for entrepreneurs and businesses. The Greater Colorado Venture Fund (GCVF) started in 2018 and focuses on supporting early-stage startups.

In 2017, Puerto Rico was devastated by back-to-back storms that resulted in Category 5-level destruction. More than 3,000 people lost their lives in Hurricanes Irma and Maria and the entire population was left without power. Total economic losses were estimated at $20 million.

Nestled in the densely forested Okanogan highlands of Eastern Washington, Deer Park’s fortunes were built on logging. But when the town’s last sawmill shut its doors, the community lost its long-time base industry and suddenly found itself with a need to economically “branch out.” Thanks to local ingenuity — backed by a $4.7 million grant from the Economic Development Administration (EDA) — this city of 3,600 people is celebrating an economic renaissance driving the creation of scores of new jobs and generating millions of dollars in private investment.

A project in New Mexico is aiming to fill a gap in support for Native American artisans and entrepreneurs. The Indian Pueblo Cultural Center (IPCC) in Albuquerque, New Mexico, showcases the accomplishments and history of the Pueblo people of New Mexico. It includes a museum highlighting cultural arts, educational opportunities, and space for daily artisans and dances.

Fishing has been the economic lifeblood of the Yup’ik people of western Alaska since time immemorial. After a catastrophic fire ripped through the Kwik'pak Fisheries salmon roe processing plant in Emmonak in March 2016, six Alaskan Native Villages along the Lower Yukon River found their economies in sudden peril. Kwik'pak Fisheries, an enterprise of the Native-owned Yukon Delta Fisheries Development Association, operates the only salmon processing plant in this section of Alaska’s vast, Unorganized Borough.

The name St. Petersburg conjures up visions of warm, sandy beaches, a variety of theme parks, and two-time Super Bowl champions, the Tampa Bay Buccaneers. Like many cities today however, St. Petersburg is looking to redefine itself, with an eye on technology and the innovation that drives it.

White Sulphur Springs is a city in southeastern West Virginia, about two hours from Charleston. According to the U.S. Census Bureau, it is home to approximately 2,400 people, as well as the famed Greenbrier Resort. For several generations, it was a coal community, but like other parts of the state, it must now redefine itself.

In the middle of a sea of cornfields in rural Iowa lies a spot that instantly sparks nostalgia in baseball fans everywhere -- the site of a 1989 hit movie Field of Dreams which coined the phrase “If you build it, he will come.”

An EDA grant to Indianapolis-based venture development firm Elevate Ventures has provided free entrepreneurship training to more than 500 entrepreneurs from across Indiana since 2019 – more than twice what was projected.

As home to the fifth largest seaport in the United States and a maritime industry valued at $38 billion, Washington state may not seem like a place that needs additional resources to support maritime-directed economic development. But four-year-old Seattle-based nonprofit Washington Maritime Blue is helping fill a very specific gap in the region’s economic landscape.