Press Release

U.S. Department of Commerce Invests $983,000 to Create Jobs, Strengthen Economy in Guttenberg, Iowa

September 3, 2009
Contact: Bryan Borlik, (202) 482-4085

EDA Grant Expected to Create 100 Jobs and Generate $50 Million in Private Investment

WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $983,000 grant to the city of Guttenberg, Iowa to help build a marina and a visitor center to support the region's tourism economy.

"The Economic Development Administration is pleased to partner with Guttenberg to boost business development and job growth," said Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer. "This EDA grant is expected to attract $50 million in private investment and create 100 jobs for local citizens, according to grantee estimates."

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.