Press Release
January 23, 2024

U.S. Department of Commerce Invests $888,789 to Support Growth of Maritime Sector in Aleutians East Borough

Contact: EDA Public Affairs Department, [email protected]

WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $888,789 grant to the city of King Cove, Alaska, for critical infrastructure improvements needed to support the region’s fisheries industry.

This grant will provide for a new mobile boat hoist necessary to increase capacity in the region’s essential fishing industry. This EDA investment will be matched with $888,789 in local funds.

“The Economic Development Administration plays an important role in helping communities implement their plans to provide the vital infrastructure that businesses need to be successful,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will provide for the procurement, delivery, and assembly of the new boat hoist, providing the local fishing industry with the infrastructure that their businesses need to grow and thrive.”

“I am delighted that the City of King Cove will be receiving an $888,789 grant from the U.S. Department of Commerce’s Economic Development Administration,” said Representative Mary Peltola (AK-At Large). “This funding will help purchase a new mobile boast hoist that will provide a boost for the fishing industry, which vital to the local economy and community. I’m especially proud of the local matching funds, which bring the total award to over $1.7 million. This cooperation is a prime example of Alaskans’ cooperative spirit and commitment. I am convinced that together, we will preserve and enhance our time-honored fishing tradition, benefiting the current generation and many more to come.”

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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.