August 31, 2004
Press Release, 04-19
Arizona Gets $2 Million in Federal Funds To Boost Business Development and Job Growth
United States Patent and Trademark Office Under Secretary for Intellectual Property Jon Dudas today in Phoenix announced a $2 million Economic Development Administration investment to Chicanos Por La Causa to help build a commercial and professional office building and a business incubator facility. The investment is expected to generate $2 million in private investments and create more than 1,200 jobs for local citizens.
“President Bush believes one way to create jobs is to grow the economy by encouraging investments in local communities,” said Under Secretary Dudas. “This EDA investment will help Arizona attract private sector investments and higher-skill, higher-wage jobs for local citizens.”
EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA partners with states, units of local government and community nonprofit organizations in economically distressed areas, regions and communities in order to alleviate conditions of poverty and substantial and persistent unemployment and underemployment.
Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.doc.gov/eda.
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