U.S. Department of Commerce Invests $1 Million in the University of Houston-Victoria to Boost Economic Diversification and Entrepreneurial Development Efforts in Texas
Contact: EDA Public Affairs Department, (202) 482-4085
May 1, 2017
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross, today announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to the University of Houston–Victoria to renovate a portion of the former Town Plaza Mall to establish the Regional Center for Economic Development and Entrepreneurship (RCEDE) in Victoria. According to grantee estimates, the project is expected to help create or retain more than 2,100 jobs and generate more than $43 million in private investment.
“The Trump administration is committed to not only retaining jobs in this country, but taking action to create new opportunities for Americans,” said Secretary Ross. “I look forward to seeing how the new University of Houston–Victoria Regional Center for Economic Development and Entrepreneurship aids in the growth and diversification of their local economy.”
The RCEDE will house the regional Small Business Development Center, which helps entrepreneurs start or grow their businesses. The University envisions the RCEDE will serve as a focal point within the 11-county region that creates value for all communities, whether large or small. The RCEDE will provide a neutral environment where communities and counties can come together and become involved in mutually beneficial regional partnerships. A shared common vision would leverage the area’s resources for more positive economic outcomes through regional partnerships and collaboration.
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.