U.S. Department of Commerce Invests $2.1 Million to Help Develop Tribally-Owned Developments in Bishop
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.1 million grant to the Bishop Paiute Tribe of Bishop, California, to support the construction of a retail center and business incubator. According to grantee estimates, the project is expected to create 98 jobs and generate $5 million in private investment.
“Entrepreneurs are vital to the long-term economic growth of the United States,” said Secretary of Commerce Wilbur Ross. “With Bishop’s new retail center and business incubator, the local community will have access to new tools for developing businesses right in their backyard which, in turn, will spur further growth.”
Specifically, the investment will include land clearance and excavation; water, sewer and storm drains; as well as parking areas. The developments will provide new opportunities for local Tribe members to build business and entrepreneurial skills, which will boost job growth, improve education, and diversify the Bishop’s economy.
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.