Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.2 million grant to the South Plains Association of Governments (SPAG) in Lubbock, Texas, for building renovations needed to support small business development in the region.
This grant will create the South Plains Regional Small Business Innovation Center to provide support and technical assistance for small businesses in SPAG’s 15-county area. This EDA investment will be matched with $550,000 in local funds.
“Small businesses are the heart of the American economy, and the Biden-Harris Administration is committed to ensuring that businesses across the country have the resources and support that they need to thrive,” said Secretary of Commerce Gina Raimondo. “This EDA investment will provide support for small businesses in the rural South Plains, helping to diversify and grow the regional economy.”
“The U.S. Economic Development Administration works closely with local communities to support place-based economic growth,” said Deputy Assistant Secretary for Policy and External Affairs, performing the non-exclusive functions and duties of the Assistant Secretary for Economic Development Cristina Killingsworth. “This project will provide local businesses across 15 counties with the technical assistance and support they need to grow and thrive.”
“Small businesses are the backbone of the Texas economy,” said Governor Greg Abbott. “This grant will develop the South Plains Regional Small Business Innovation Center to help bolster the local economy and support businesses across the region. I thank the Economic Development Administration for this investment to Texas’ thriving small business community.”
“Small businesses are the backbone of the Texas economy,” said Senator John Cornyn. “I applaud this announcement and look forward to seeing the positive impact this award will have for business growth in 15 counties across the South Plains.”
This project is funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.