Commerce Dept Gives $1M For Hawaii Economic Growth

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The U.S. Department of Commerce today announced a $1 million grant it hopes will stimulate and diversify Hawaii’s economy.

The Economic Development Administration grant is going to the Feed the Hungry Foundation based in Honolulu and will support the establishment of a Revolving Loan Fund to provide financial capital to area businesses.

“This $1 million Economic Development Administration investment in Hawaii is an example of the Obama administration’s commitment to helping communities that have been impacted by natural disasters rebuild and recover,” Acting U.S. Commerce Secretary Rebecca Blank said in a press release. “The grant announced today will help Honolulu provide local businesses with the resources they need to grow.”

The program will focus in particular on those working to develop agricultural assets that will reduce the state’s dependence on food imports.

As you might expect, Hawaii’s congressional delegation is on board with the idea.

Read the full release, with quotes from both reps and both senators, here.

— Michael Levine

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