Press Release
U.S. Department of Commerce Invests $750,000 to Support Small Businesses and Entrepreneurial Development in Eight States
Contact: EDA Public Affairs Department, (202) 482-4085
December 20, 2017
WASHINGTON – The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $750,000 grant to Los Angeles Operation Hope of Los Angeles, California, to support the implementation of the HOPE Inside Small Business Empowerment Initiative (SBEI) in eight southeastern states. According to grantee estimates, the project is expected to help create 585 jobs and spur $750,000 in private investment.
“We commend Operation Hope for their local efforts to support budding entrepreneurs through their HOPE Inside Small Business Empowerment Initiative,” said Deputy Assistant Secretary for Regional Affairs Dennis Alvord. “This investment will help create new businesses and jobs throughout the southeastern United States.”
This investment will support the HOPE Inside Small Business Empowerment Initiative to serve the needs of aspiring and current entrepreneurs from various metropolitan areas in Georgia, Florida, Alabama, North Carolina, Kentucky, South Carolina, Mississippi and Tennessee. The program will target hard-to-reach entrepreneurs who lack financial and business development skills, and will help provide them with the financial and technical resources needed to operate or grow a successful business enterprise. An emphasis will be placed on supporting veterans.
The project was made possible by the regional planning efforts led by the Middle Georgia Regional Commission, South Florida Regional Planning Council, Tampa Bay Regional Planning Council, Northwest Alabama Council of Local Governments, Alabama-Tombigbee Regional Commission, Central Midlands Council of Governments, Triangle J Council of Governments, Purchase Area Development District, and North Delta Planning and Development District. EDA funds these District Planning organizations to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs.
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.