News From…

Congressman Dennis Cardoza
18th Congressional District of California
 

Grant Supports a Regional Economic Development Strategy for the San Joaquin Valley
FOR IMMEDIATE RELEASE
April 11, 2008		 CONTACT:  Jamie McInerney
(202) 225-6131

WASHINGTON, DC – Today, Congressman Dennis Cardoza is pleased to announce an investment award from the Department of Commerce Economic Development Administration (EDA).  The EDA grant of $110,000 will be used towards establishing a Regional Certified Economic Development Strategy (CEDS) for the eight counties in the San Joaquin Valley, providing a planning framework and strategy that supports private capital investment and job creation in the region. This strategy will also allow the San Joaquin Valley to create an Economic Development District that will give the region a unified voice and lead to high value investments and projects.

“I hope the announcement of this grant is just the first step in a sustained federal commitment to promoting economic development and job creation in the Valley,” said Cardoza.  “As a region hit disproportionately hard by the foreclosure crisis and economic downturn, it is long past time for the Valley to receive the federal economic development support it deserves.”

The EDA Investment Award responds to chronic economic underdevelopment identified in a Congressional Research Service (CRS) report on the San Joaquin Valley.  The CRS report was created at the behest of Congressman Cardoza and other Valley delegation members in 2005.  The CRS report and this Investment Award are the initial steps in a coordinated effort to promote economic growth and job creation in the San Joaquin Valley with federal support. 

The EDA grant was applied for by the Merced County Economic Development Corporation on behalf of the Central California Economic Development Corporation, to which all  eight San Joaquin Valley  Economic Development Corporations belong.

Notice of the Investment Award can be found here: https://gns.ocs.doc.gov/public/ViewMessage.cfm?MsgID=evbv90vr97

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