U.S. Department of Commerce Invests $820,000 to Help Develop Claiborne Street Corridor Innovation District in New Orleans
Contact: EDA Public Affairs Department, (202) 482-4085
September 27, 2017
WASHINGTON – The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $820,000 grant to the city of New Orleans, Louisiana, to help develop a cultural innovation district along the Claiborne Street corridor. According to grantee estimates, the project is expected to create 75 jobs, retain 50 jobs and spur $10 million in private investment.
“We commend the city of New Orleans for continuing their successful strategy to foster innovation-based growth,” said Deputy Assistant Secretary for Regional Affairs Dennis Alvord. “The Claiborne Innovation District will help the city's underserved communities between the Central Business District and the Lower Ninth Ward with new economic development opportunities to be cultivated through entrepreneurship and small business development.”
Once operational, space for fifty small and micro business enterprises and eight anchor businesses will be available. Additionally, during the first two years, workforce training will be provided on site. It is anticipated that approximately 300 residents will receive training for employment in green collar and advanced manufacturing industries.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.