Wednesday, March 2, 2011
Contact: John Atwood 202-482-4085
Export Opportunities for Hawaii Businesses to Advance with U.S. EDA Assistance
- The U.S. Commerce Department's Economic Development Administration
(EDA) today announced a $250,000 grant to Enterprise Honolulu of
Honolulu, Hawaii to provide critical business development assistance
that will help small- to medium-sized businesses in Hawaii capitalize on
international trade opportunities within the Asia-Pacific region.
represent a critical part of the economy and are a key component of the
Obama administration's efforts to spur new job creation," said U.S.
Assistant Secretary of Commerce for Economic Development John
Fernandez. "Providing Hawaiian businesses with the tools they need to
broaden their export horizons will work to advance the region's global
competitiveness and create new jobs."
"The project is directed
toward attracting private investment and stimulating the export
potential of Hawaii businesses by establishing and nurturing
relationships with the potential to synergize the respective economic
development strengths to multiple partners," said Pono Shim, President
and CEO, Enterprise Honolulu. "When in effect, this project will help
alleviate Hawaii's economic crisis by providing jobs for those affected
by the mass layoffs that left an estimated 650 people unemployed between
the months of August and October 2010."
One year ago, President
Obama outlined his National Export Initiative (NEI), which seeks to
double exports by 2015, in support of several million new U.S. jobs. The
NEI enhances the U.S. government's trade promotion efforts, increases
credit to businesses - especially small- and medium-sized businesses -
looking to export, and continues to improve efforts to remove trade
barriers for U.S. companies in foreign markets.
companies had tremendous exporting success in 2010, with exports up 17
percent compared to the same period in 2009. This project supports
EDA's priority to advance collaborative regional innovation and global
About the U.S. Economic Development Administration (www.eda.gov):
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.