Press Release

U.S. Department of Commerce Invests $124,396 to Create Jobs, Strengthen Economy in the United States Virgin Islands

December 18, 2009

WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $124,396 grant to the U.S. Virgin Islands Bureau of Economic Research, St. Thomas, United States Virgin Islands to help mitigate the economic impact of future natural disasters by developing and implementing an overall post-disaster economic strategy plan.

"Economic recovery and growth are top priorities for the Obama Administration," said U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez. "The post-disaster economic strategy will help the U.S. Virgin Islands create and save jobs by simplifying the collection of vital data needed to plan regional economic development strategies to lessen the economic impact of future natural disaster events."

"This important EDA funding will allow the U.S. Virgin Islands Bureau of Economic Research to continue to plan and implement economic development projects that are providing a better standard of living for the region's citizens," said Lauritz Mills, Director, U.S. Virgin Islands Bureau of Economic Research.

EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster economic growth and job creation. 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 global economy.

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