U.S. Commerce Department Allocates $600,000 Grant to Aid Puerto Rico’s Small Businesses
In a significant move to bolster the economic resilience of Puerto Rico, the U.S. Department of Commerce’s Economic Development Administration (EDA) has announced a $600,000 grant dedicated to Friends of Puerto Rico, located in Aguadilla. The aim of this grant is to stimulate small business growth that has been adversely affected by Hurricane Fiona.
This funding will be directed towards developing a technical assistance program, designed to offer training, education, and facilitate access to crucial funding for impacted businesses. The EDA’s contribution will be further supported by an additional $150,000 in local funding.
Acting Assistant Secretary of Commerce for Economic Development, Cristina Killingsworth, expressed the EDA’s mission, stating, “The Economic Development Administration works to provide communities, including those impacted by natural disasters, with the vital resources they need for businesses to thrive.” She emphasized that the investment aims to nurture entrepreneurial spirit and small business expansion in Puerto Rico for economic resilience.
Governor Pedro Pierluisi acknowledged the essential support from the Biden Administration and EDA, remarking, “This EDA grant will be a lifeline for our local entrepreneurs, helping them access the resources they need to recover and continue contributing to the economic vitality of their communities and Puerto Rico.” He highlighted the small businesses as the backbone of the economy, facing numerous challenges post-Hurricane Fiona.
Echoing this sentiment, Representative Jenniffer González-Colón of Puerto Rico praised the grant, saying, “I commend Friends of Puerto Rico for their dedication to fostering economic growth and resilience in our communities.” She noted the $600,000 grant’s key role in empowering small businesses across Aguadilla and the broader region by providing essential support.
This initiative is part of a broader support mechanism under the Disaster Relief Supplemental Appropriations Act, 2023. The act allocated an extra $483 million to the EDA’s Economic Adjustment Assistance (EAA) Program for disaster recovery in areas declared major disaster zones under the Robert T. Stafford Act. Additional details can be found on the EDA’s Disaster Supplemental webpage.
