U.S. Department of Commerce Invests $3 Million to Establish Business and Entrepreneurship Center in Tulsa, Oklahoma

WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the Tulsa Economic Development Corporation in Tulsa, Oklahoma, to create a business and entrepreneurship center.

This grant will provide services, tenant opportunities, and meeting space for local entrepreneurs. This EDA investment will be matched with $5,026,426 in local funds.

“President Biden’s Investing In America agenda is a commitment to ensuring that communities in Oklahoma and across the country have the resources needed to grow strong, resilient regional economies,” said Secretary of Commerce Gina Raimondo. “This EDA investment will support the redevelopment of the historic Moton Hospital, spurring small business growth and entrepreneurship in Tulsa that will help local entrepreneurs launch new businesses.”

 “The Economic Development Administration works closely with local communities to support place-based economic growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This investment in Tulsa will turn a former place of healing into a place of opportunity, supporting broad-based entrepreneurial services to bolster small businesses, helping everyone in the region, especially historically underserved communities, to thrive.”

This project was made possible by the regional planning efforts led by the Indian Nations Council of Governments (INCOG). EDA funds INCOG 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.

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.