Press Release

U.S. Department of Commerce Invests $190,000 to Support Export Growth and Competitiveness in Guam

Contact: Public Affairs Department, (202) 482-4085
Thursday, August 1, 2013

WASHINGTON — The U.S. Department of Commerce’s Economic Development Administration (EDA) today announced a $190,000 grant to the University of Guam to support the development of an integrated strategy that will help strengthen key economic clusters to boost the territory’s export and competitiveness goals.

“This EDA investment is an example of the Obama administration’s commitment to creating jobs and advancing our nation’s economic competitiveness,” said U.S. Deputy Assistant Secretary of Commerce for Economic Development Matt Erskine. “This vital grant will help ensure that Guam is best positioned to support business development needs and generate high-skill, living-wage jobs.”

The EDA grant will fund the development of an integrated strategy to increase tourism, exports, and competition in the global marketplace. It will also support the University of Guam’s efforts to strengthen the regional economy through the provision of technical assistance and applied research that will help boost productivity and spur innovation and entrepreneurship.

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.