Press Release

U.S. Department of Commerce Invests $500,000 to Create Jobs, Strengthen Economy in Southeast Missouri

April 22, 2009

EDA Grant Expected to Create 180 Jobs, Generate $3.6 Million in Private Investment

WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $500,000 grant to the Southeast Missouri Regional Planning & Economic Development Commission of Perryville, Mo., to recapitalize a Revolving Loan Fund that is essential to providing gap financing to businesses impacted by storm damage in 2008.

"The Economic Development Administration is pleased to partner with the Southeast Missouri Regional Planning & Economic Development Commission to boost business development and job growth," said Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer. "This EDA grant is expected to create 180 jobs and generate $3.6 million in private investment, according to grantee estimates."

EDA supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and 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.