Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing in a business incubator that will facilitate $3.15 million in private investment and create at least 34 new jobs at Blue Lake Rancheria in California.
“The Trump Administration is continuing to work diligently to help rebuild communities devastated by natural disasters, including the storms and flooding that hit Blue Lake,” said Secretary Ross. “The business incubator at Blue Lake Rancheria will nurture new businesses and strengthen the regional economy.”
EDA is awarding a $7.9 million grant to Blue Lake Rancheria, a Federally recognized Tribe located in Blue Lake, California, to build a business incubator facility that will help grow new business ventures. Blue Lake Rancheria and the surrounding region were impacted heavily by severe winter storms, flooding, and mudslides in 2017. This project will help to create new businesses and employment opportunities for the region’s workforce.
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.