WASHINGTON – The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $750,000 grant to Hidden Star Resources of Austin, Texas, to provide start-up business assistance across 10 areas in Texas, Arkansas and New Mexico. According to the grantee, the project is expected to create more than 400 jobs and spur $1.5 million in private investment.
“This EDA investment funds a program to provide technical assistance, training, education, and other resources to start-up companies and entrepreneurs in 10 low-income and disadvantaged areas across Arkansas, New Mexico, and Texas,” said Deputy Assistant Secretary for Regional Affairs Dennis Alvord.
Hidden Star Resources offers small business owners with counseling, mentoring and workplace training services to spur economic development throughout local communities and the U.S. economy. Hidden Star plans to utilize the EDA investment as a pilot for nationwide expansion.
About the U.S. Economic Development Administration (www.eda.gov)
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.