U.S. Department of Commerce Invests $592,357 to Support International Trade Efforts in Arkansas
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $592,357 grant to the University of Arkansas’ World Trade Center Arkansas in Fayetteville, to promote the expansion of exports as well as job growth and retention in 57 Arkansas counties affected by natural disasters. According to grantee estimates, the project is expected to create 10,000 jobs, retain 350,000 jobs, and spur $5 million in private investment.
“We commend World Trade Center Arkansas for helping to create economic opportunity through the promotion of international trade and business,” said Deputy Assistant Secretary for Regional Affairs Dennis Alvord. “This project will help expand Trade Center programs to help to diversify the state’s economy.”
World Trade Center Arkansas services include educational classes, one-on-one consulting, trade shows, trips to foreign markets, and access to economic development networks. It is also the designated state-wide international trade development office of the Arkansas Economic Development Commission.
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.