Press Release
U.S. Commerce Secretary Gary Locke Announces $184,000 Recovery Act Grant to Create Jobs, Boost Development in Kennedy, Minnesota
July 27, 2009
Contact: Bryan Borlik, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced an $184,000 Economic Development Administration (EDA) grant to the city of Kennedy, Minn., to help renovate a vacated school building for use as a business incubator. The project, made possible because of the American Recovery and Reinvestment Act of 2009 (ARRA), is expected to create additional jobs and private investment in the region.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," Locke said. "This grant will help create new jobs and boost private investment by building a business incubator to assist start-up businesses in the alternative energy and value-added food-processing sectors."
The Recovery Act was signed into law by President Obama on February 17, 2009. It is providing immediate relief for American families and jump-starting billions of dollars in new projects that are creating jobs, improving infrastructure and strengthening local economies.
"This investment will not only create new jobs, but by assisting entrepreneurs in starting new businesses, we can reduce our dependence on foreign oil, protect the environment and strengthen our local economies in places like Kennedy," U.S. Sen. Amy Klobuchar said.
"Despite these tough economic times, Minnesota remains a great place for businesses and entrepreneurs," U.S. Sen. Al Franken said. "This recovery money to develop a business incubator in the town of Kennedy is a smart investment that will create jobs and strengthen the economies of both Kennedy and greater Minnesota."
The Department of Commerce is a voice for Main Street businesses. It focuses on creating jobs by fostering innovation and opening markets to U.S. products.
EDA is an agency within the U.S. Commerce Department and 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.