The U.S. Department of Commerce has announced a $3 million grant award to the Tulsa Economic Development Corporation in Oklahoma, aimed at creating a business and entrepreneurship center. The announcement was made by U.S. Secretary of Commerce, Gina Raimondo and is part of President Biden’s Investing In America agenda.
The grant, provided by the Department’s Economic Development Administration (EDA), will be used to create services, tenant opportunities, and meeting spaces for local entrepreneurs in Tulsa. The EDA’s investment will be matched with $5,026,426 in local funds. The initiative aims to stimulate small business growth and entrepreneurship in Tulsa, facilitating local entrepreneurs to launch new businesses. The project is part of a broader effort to ensure that communities across the country have the resources needed for strong, regional economic growth.
The grant will also support the redevelopment of the historic Moton Hospital. Assistant Secretary of Commerce for Economic Development, Alejandra Y. Castillo, stated that the investment would transform the former hospital into a place of opportunity, providing entrepreneurial services to small businesses, thereby helping the regional community, particularly historically underserved communities, to thrive.
The project was made possible due to the regional planning efforts led by the Indian Nations Council of Governments (INCOG). The EDA funds INCOG to convene the public and private sectors in order to create an economic development roadmap to strengthen the regional economy, attract private capital investment and create jobs.
The funding for this project comes from the Disaster Relief Supplemental Appropriations Act, 2023, which supplied the EDA with additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery in areas receiving a major disaster declaration under the Robert T. Stafford Act due to natural disasters occurring in 2021 and 2022, including Hurricanes Ian and Fiona, wildfires, and flooding.
