Congressman Dennis Cardoza
18th Congressional District of California

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 $60,000 will be used to establish the Innovation Place Network – a Merced County Economic Development Corporation (MCEDCO) project to promote local entrepreneurship with an emphasis on commercializing and marketing innovative technology from Merced College and UC Merced.

“As a region hit disproportionately hard by the foreclosure crisis, high unemployment, and record gas prices, this is exactly the type of initiative we need to pull ourselves out of economic doldrums,” said Cardoza.  “This grant is part of an on-going effort by my office and local partners to promote economic development and job creation in the Valley.  It is long past time for the Valley to begin receiving the economic development support it needs and deserves from the federal government.”

The EDA grant 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 grant are part of a coordinated effort to promote economic growth and job creation in the San Joaquin Valley with federal support.

"Congressman Cardoza and his staff were instrumental in forging the collaborative team that lead to this award" stated MCEDCO President/CEO Scott Galbraith.  "Mr. Cardoza has long championed a regional approach to economic development and his encouragement to develop a pilot project to help small business and entrepreneurs ideally linked the resources of Merced College's campuses with the cities of Los Banos and Merced".

The EDA grant was applied for by MCEDCO.  MCEDCO is a private/public nonprofit organization that also collaborates with other organizations to facilitate economic growth.  Their mission is to facilitate the creation of new employment, increase investment, diversify Merced County’s economy and strengthen local services.  MCEDCO provides services to local businesses looking to expand their enterprises, and to new businesses looking to relocate in both incorporated and unincorporated communities within Merced County.

Notice of the Investment Award can be found here: https://gns.ocs.doc.gov/public/ViewMessage.cfm?MsgID=qdeqkwfs1z