U.S. Department of Commerce Invests $600,000 to Help Small Businesses in the Houston-Galveston Area in Wake of Hurricane Harvey
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $600,000 grant to Hidden Star Resources to help fuel new development and provide support to existing small businesses recovering from the effects of Hurricane Harvey.
“We commend Hidden Star Resources for their efforts to provide support to small businesses after the destruction caused Hurricane Harvey,” said Deputy Assistant Secretary for Regional Affairs Dennis Alvord. “This project will ensure that businesses in the Houston-Galveston area get the services they need to grow and revitalize the local economy.”
This investment will allow Hidden Star Resources to target startup and other services to the region. Continuity planning services will also be incorporated to increase economic resiliency and help local businesses better prepare for future disasters.
This project is funded under the Bipartisan Budget Act of 2018 (PL 115-123) (PDF), in which Congress appropriated to EDA $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) funds for disaster relief and recovery as a result of Hurricanes Harvey, Irma, and Maria, wildfires, and other calendar year 2017 natural disasters under the Stafford Act.
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.