In This Issue

• Spotlight: Message from the Assistant Secretary
• Success Story: EDA’s Revolving Loan Fund (RLF) Program Helps Turn a Chocolatier’s Dream into Reality
• Highlight: Assistant Secretary Fleming and Senator Capito Celebrate Veteran’s Day in West Virginia with EDA Announcement and Pinning Ceremony

Spotlight: Message from the Assistant Secretary

Hello Friends and Colleagues,

As the end of the year approaches, I’d like to take a moment to reflect on the work EDA has accomplished over the past six months.

When I took office as Assistant Secretary in March, I was eager to start advancing President Donald J. Trump and Secretary Wilbur Ross’s economic agenda at the Department of Commerce. I am pleased to share that we have made great strides thus far.

In June, EDA added Opportunity Zones as a new Investment Priority. By implementing this policy change, we have increased the number of catalytic Opportunity Zone-related projects that EDA can fund to spur greater public investment in these areas.

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Success Story: EDA’s Revolving Loan Fund (RLF) Program Helps Turn a Chocolatier’s Dream into Reality

EDA’s Revolving Loan Fund (RLF) program provides small businesses and entrepreneurs with the gap financing they need to start or expand their businesses.

On October 12, Romeo Chocolates, LLC, celebrated the grand opening of its brick-and-mortar location in Long Beach, California. Founded in 2014, Romeo Chocolates is a micro-batch, artisanal confection line featuring world-sourced chocolate with local influences.

In 2017, using funds from an EDA-funded RLF, Long Beach provided a $50,000 loan to Romeo Chocolates to provide funds for furniture, equipment, and working capital needs to assist the company expand its operations by establishing a permanent retail location.

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Highlight: Assistant Secretary Fleming and Senator Capito Celebrate Veteran’s Day in West Virginia with EDA Announcement and Pinning Ceremony

On November 11, Assistant Secretary Fleming joined U.S. Senator Shelley Moore Capito and U.S. Representative Carol Miller to announce eight EDA grants totaling more than $7 million to the state of West Virginia to develop infrastructure needed for business growth and workforce training programs.

Assistant Secretary Fleming also delivered the keynote address at Charleston, West Virginia’s Veteran’s Day ceremony and assisted Senator Capito in presenting Welcome Home pins and proclamations to 19 Vietnam Veterans.

More than half of the projects announced in West Virginia are in or near Opportunity Zones, an initiative made possible through President Trump’s Tax Cuts and Jobs Act. Opportunity Zones aim to spur growth in economically distressed areas by incentivizing private investment in communities that need it the most.

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