Press Release

U.S. Department of Commerce Invests $350,000 to Create Jobs, Strengthen Economy in Sacramento, California

August 14, 2009
Contact: Bryan Borlik, (202) 482-4085

WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $350,000 grant to the California Association for Local Economic Development (CALED), Sacramento, Calif., to help increase the effectiveness of local revolving loan fund programs for businesses and to facilitate financing for municipal and county capital improvements.

"The Economic Development Administration is pleased to partner with CALED to boost business development and job growth," said Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer. "This EDA grant will enhance the quality of the network of revolving loan fund operators that provide critical lending to businesses and will support fiscal advisory services for communities in the state that are in need affordable financing."

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.