On October 5, 2017, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) was awarding a $1.6 million grant to the Hispanic Economic Development Corporation of Kansas City, Missouri.
The purpose of the money is to renovate an existing industrial building located in an economically distressed area of Kansas City for use as small business incubation space. According to grantee estimates, the project is expected to create 90 jobs.
“Through this project, Hispanic Economic Development Corporation will help drive new job growth as well as provide a boon to potential small businesses throughout Kansas City,” said Ross.
The project will assist in the construction and renovations of 13,000 square feet of space that will contain a commercial kitchen, co-working space, conference rooms, and business assistance services.
The project was made possible by the regional planning efforts led by the Mid-America Regional Council (MARC), to bring together the public and private sectors to create an economic development “road map” to strengthen the regional economy, support private capital investment, and create jobs.
The Hispanic Economic Development Corporation is dedicated to improving the lives of Latinos within the greater Kansas City. HEDC achieves this area through business development and economic and community wealth creation initiatives.
MARC is a nonprofit association of city and county governments and the metropolitan planning organization for the bistate Kansas City region. Governed by a Board of Directors made up of local elected officials, we serve nine counties and 119 cities. We provide a forum for the region to work together to advance social, economic and environmental progress. MARC is funded by federal, state and private grants, local contributions and earned income. A major portion of our budget is passed through to local governments and other agencies for programs and services.
The mission of the 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.
Photo of Kansas City skyline via Adobe Stock.