Press Release

U.S. Department of Commerce Invests $40,000 to Create Jobs, Strengthen Economy in Capitola, California

December 28, 2009
Contact: Lindsey Pangretic, (202) 482-4085

WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $40,000 grant to the city of Capitola, Calif., to prepare an economic development strategy to guide commercial growth and expansion.

"Economic recovery and growth are top priorities for the Obama Administration," said U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez. "This EDA grant will help Capitola asses its commercial infrastructure to determine the needs of existing businesses and to accommodate future private investment."

"This project funded by EDA will significantly increase opportunities for commerce, allowing local businesses to expand, creating opportunities for new entrepreneurial enterprises in the community," said Richard Hill, City Manager, city of Capitola.

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.