Tuesday, July 1, 2008
Governor Culver, Commerce Secretary Gutierrez Announce $3 Million In Initial Support To Help Iowa Plan Economic Recovery
CEDAR RAPIDS—Today, Governor Chet Culver joined with US Secretary of Commerce Carlos M. Gutierrez to announce that the Commerce Department will immediately provide an initial $3 million in federal funds to quickly help Iowa develop a state-wide economic recovery strategy. The Department’s Economic Development Administration (EDA), which will assist in distributing the funds, specializes as an economic development resource to assist distressed communities throughout the United States.
"I want to thank the U.S. Dept. of Commerce for making this commitment to Iowa's economy," said Iowa Governor Chet Culver. "With the impact to Iowa's business community, the effects of this year's historic natural disasters will be felt far outside the communities that were affected. However, together with the help and cooperation of everyone on the local, state and federal levels, I am confident that Iowa's economy will stay strong, and our state will be rebuilt -better and stronger than before."
U.S. Commerce Secretary Carlos M. Gutierrez traveled today to Iowa to make the announcement.
“There is no doubt that Iowa faces challenges in the days ahead – this has been an immense natural disaster. But from disaster comes the opportunity to rebuild – and to rebuild even better than before. The President and the whole Administration are committed to helping Iowa and the entire Midwest region rebuild,” said Gutierrez.
“EDA staff is in the region assessing damage and coordinating with economic development stakeholders to ensure the most rapid response possible. We’ve moved at unprecedented speed to stand with Governor Culver and the people of Iowa in their time of need. This $3 million initial investment will allow Governor Chet Culver and the state of Iowa to quickly develop an economic recovery strategy that will help target future federal recovery funding.”
Governor Culver, Secretary Gutierrez, Acting Small Business Administration (SBA) Administrator Jovita Carranza and EDA Denver Regional Office Director Robert Olson met with more than 20 Cedar Rapids business leaders and discussed economic recovery efforts in the region. Joining the meetings were Congressman Dave Loebsack, and Cedar Rapids Mayor Kay Halloran.
EDA is the primary Department of Commerce bureau to assist with post-disaster economic recovery – although it does not have “first responder” duties or capabilities. EDA’s mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.
Additional information on EDA investments can be accessed at: http://www.eda.gov.