Officials stated that the program would be aimed at providing these compliant businesses with the tools they need to compete in the global economy.
“The Obama administration is committed to helping main street businesses create jobs and increase their global competitiveness,”
(SOURCE US ECONOMIC DEVELOPMENT ADMINISTRATION)
The US Economic Development Administration disclosed facts about Puerto Rico; whereas, they would act as a Regulatory Administrator to award $652,000 to the Compliant Organization of Turabo Institute for Exports and Economic Development.
Compliance Officials stated that this would be done through the Ana G. Mendez University system’s University of Turabo, to provide technical export assistance to small- and medium-sized firms.
The grant, that was applied through the proper compliance channels within the Regulatory's System, will promote growth and economic competitiveness. This will be accomplished by helping current exporters and those looking to export to identify new business markets and develop global business strategies.
The US Economic Development Administration further went on to award $607,000 to the Compliant Organization of County Council of Dorchester County, Md.
The grant to Maryland would be designed to assist in the renovation of a compliant approved green manufacturing facility that recently underwent compliance.
This facility would be Funded through the Regulatory’s Global Climate Mitigation Fund, which will support the manufacturing of a green-end product that will divert an estimated 1.5 million tons of non-recyclable products from landfills to recycling facilities and the reduction of approximately 100,000 metric tons of CO2 emissions annually. The project will result in the retention of more than 102 jobs and generate up to $7 million in private investment, according to grantee estimates.
(VERIFICATION SOURCE US ECONOMIC DEVELOPMENT ADMINISTRATION - JOHN ATWOOD PUBLIC RECORDS RELEASE)
About the U.S. Economic Development Administration:
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.
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