U.S. Department of Commerce Invests $1.1 Million in American Rescue Plan Funds to Provide Technical Assistance to Small Businesses in South San Francisco, California
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.1 million American Rescue Plan Economic Adjustment Assistance grant to the city of South San Francisco, California, to develop the North County Business Resource Center.
The new facility will benefit low and moderate income. and previously underserved populations by providing technical assistance to emerging and small businesses in North San Mateo County. Programs offered by the center will include business training classes, technology workshops, and website development instruction. This EDA grant will be matched by $283,432 in local investment, is expected to create 372 jobs, retain 748 jobs, and generate $43.7 million in private investment.
“President Biden recognizes America’s small businesses as the engines of the nation’s economy,” said Secretary of Commerce Gina M. Raimondo. “This Administration is committed to helping local communities thrive by ensuring that Americans have access to the skills they need to be successful, whether that means accessing a good-paying job or building a business.”
“President Biden has put equity at the center of his agenda because we know we can only build back better if everyone has the opportunity to fully participate in the economy,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “The services provided through this project will help entrepreneurs adjust to the new economic climate, pivot their business models, build capacity, recover, and enhance their abilities to participate in the digital economy.”
“As California’s nation-leading economic recovery continues, we’re focused on ensuring that the hardest hit among us have the opportunities and support they need to thrive,” said Governor Gavin Newsom. “Today’s investment will help develop a business resource center in North San Mateo County, providing much-needed assistance to underserved small business owners getting back on their feet, including technology workshops and business training classes. The Biden Administration recognizes the importance of supporting a broad-based recovery and California is grateful to have their continued support for this shared goal.”
“I fought to pass the American Rescue Plan to support those hit hardest by the COVID-19 pandemic, including our small businesses that are key to building economic opportunity,” said Senator Alex Padilla. “This funding will provide resources and assistance to small businesses in San Mateo County, and help create hundreds of jobs and boost local entrepreneurship.”
“Small businesses have always been the heart of our local economies, but the past two years have been particularly hard on our local business communities and our community as a whole,” said Congresswoman Jackie Speier (CA-14). “This funding will help develop a Business Resource Center which will provide the necessary support and assistance needed for emerging entrepreneurs and local businesses to thrive. North San Mateo County communities have always been resilient. This federal investment is the extra push business owners need to build back better in the wake of the COVID-19 pandemic.”
This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.