Press Release

U.S. Department of Commerce Invests $529,171 in the Economic Development Catalyst Organization of Austin, Texas

March 11, 2009
Contact: Bryan Borlik, (202) 482-4085

Federal Grant will Help Boost Tech-based Business Development in the Texas/Mexico Border Region

The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $529,171 grant to the Economic Development Catalyst Organization (EDCO) of Austin, Texas to help boost the Border Initiative to promote high value-added industry development in the Texas/Mexico border region.

"The Economic Development Administration is pleased to partner with EDCO to boost business development and job growth," said Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer. "This EDA grant will help establish tech-based businesses in the border region, creating higher-skill, higher-wage jobs for local citizens."

EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA's mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.

Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.