Success Stories

The town of Somerset is a small, waterfront community in southeastern Massachusetts. It was incorporated in 1790 but has a rich heritage dating back to the founding of America. Today, it is home to more than 18,000 residents, boasting a diverse population representing many cultures and communities.

In 2006, when the U.S. Marine Corps made plans to expand its footprint on Guam, one logistical challenge became immediately apparent: the project would require nearly three times more construction workers than were available in the Territory. For leaders in Guam’s construction industry, however, the dilemma was nothing new. They’d been dealing with a shortage of skilled workers since the hotel building boom of the 1980s.

The landscape and opportunities for entrepreneurs in Wyoming are growing. IMPACT 307, a business incubator program at the University of Wyoming, is now expanding statewide.

The maritime history of the western U.S. was written at San Francisco’s Pier 70. From the California Gold Rush to Y2K, the most important ships to ply the Pacific were laid down at Pier 70’s shipyards, one of the best-preserved 19th century industrial complexes west of the Mississippi.

When the pandemic first began, Americans had a renewed appreciation for the trucking industry, bringing supplies and groceries to shelves across the country. Two years later, the need for qualified, commercial truck drivers has only increased, as America faces global supply chain issues. With support from the Economic Development Administration, one grantee is helping to fill that void.

With a focus on rural communities, a venture fund in western Colorado is helping to create new opportunities for entrepreneurs and businesses. The Greater Colorado Venture Fund (GCVF) started in 2018 and focuses on supporting early-stage startups.

In 2017, Puerto Rico was devastated by back-to-back storms that resulted in Category 5-level destruction. More than 3,000 people lost their lives in Hurricanes Irma and Maria and the entire population was left without power. Total economic losses were estimated at $20 million.

Nestled in the densely forested Okanogan highlands of Eastern Washington, Deer Park’s fortunes were built on logging. But when the town’s last sawmill shut its doors, the community lost its long-time base industry and suddenly found itself with a need to economically “branch out.” Thanks to local ingenuity — backed by a $4.7 million grant from the Economic Development Administration (EDA) — this city of 3,600 people is celebrating an economic renaissance driving the creation of scores of new jobs and generating millions of dollars in private investment.

A project in New Mexico is aiming to fill a gap in support for Native American artisans and entrepreneurs. The Indian Pueblo Cultural Center (IPCC) in Albuquerque, New Mexico, showcases the accomplishments and history of the Pueblo people of New Mexico. It includes a museum highlighting cultural arts, educational opportunities, and space for daily artisans and dances.

Fishing has been the economic lifeblood of the Yup’ik people of western Alaska since time immemorial. After a catastrophic fire ripped through the Kwik'pak Fisheries salmon roe processing plant in Emmonak in March 2016, six Alaskan Native Villages along the Lower Yukon River found their economies in sudden peril. Kwik'pak Fisheries, an enterprise of the Native-owned Yukon Delta Fisheries Development Association, operates the only salmon processing plant in this section of Alaska’s vast, Unorganized Borough.