U.S. Department of Commerce Invests $2.6 Million to Help Support and Grow Businesses in Georgia
Contact: EDA Public Affairs Department, (202) 482-4085
December 11, 2017
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding $2.6 million in grants to support business development in Georgia.
“The Trump Administration is committed to stimulating job growth in communities across the country,” said Secretary of Commerce Wilbur Ross. “These projects will ensure that Georgia’s small businesses have the resources they need to grow and thrive.”
The grants announced today include:
- $1.86 million to the Moultrie Colquitt County Development Authority of Moultrie, Georgia, to help build a business incubator at the Citizens Business Park that will provide affordable office space and a quality product development area to help small businesses in the region grow. According to the grantee, the project is expected to help create 60 jobs and spur $2 million in private investment in the first three years. The project was made possible by the regional planning efforts led by the Southwest Georgia Regional Commission. EDA funds the Southwest Georgia Regional Commission to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support capital investment and create jobs.
- $750,000 grant to the Central Savannah River Area Regional Commission of Augusta, Georgia, to recapitalize an existing Revolving Loan Fund (RLF) that provides loans to new and expanding small businesses. The recapitalized RLF is expected to help launch businesses that will emerge from the State of Georgia’s new $55 million Georgia Cyber Center incubator, which will be located in Augusta in addition to other businesses. This project was made possible by the regional planning efforts led by the Central Savannah River Area Regional Commission. EDA funds the Central Savannah River Area Regional Commission to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support capital investment and create jobs.
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.