U.S. Department of Commerce Invests Nearly $1.3 Million to Support Small Business Development in Ponca City, Oklahoma
Contact: EDA Public Affairs Department, (202) 482-4085
June 12, 2017
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding a $1.275 million grant to the Ponca City Development Authority of Ponca City, Oklahoma, to renovate, update, and modernize the City Center building located in the heart of the downtown business district. According to grantee estimates, the project is expected to create 35 jobs, and retain 34 jobs.
“The Trump Administration is committed to not only retaining jobs in this country, but also to creating new opportunities through infrastructure improvements,” said Secretary Ross. “I look forward to seeing how this renovated building will help businesses grow and thrive.”
Renovations to the City Center building will include “Class A” state-of-the-art office space completed with conference rooms, HVAC tower railing, signature high ceilings, and equipment. The facility is designed to be used as a communal or shared-work center by small business owners who want to work around other people from time-to-time, thereby promoting potential collaboration with other small businesses; or they may need the center for convenience and its professional office appearance. In addition to attracting new jobs, the City Center building will also help the region to diversify its economy and facilitate the expansion of commercial industries.
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.