HUD Archives: News Releases

HUD No. 10-218
Joseph J. Phillips (678) 732-2943
J. Nicholas Shelley (904) 232-2627
For Release
February 18, 2010

Improvements will foster business development and create jobs

JACKSONVILLE - U.S. Department of Housing and Urban Development Deputy Secretary Ron Sims today visited
Beaver Street Enterprise Center, a Jacksonville small business incubator that is receiving funds through the American Recovery and Reinvestment Act of 2009 (Recovery Act) for expanding its facility and capacity to help small local businesses.

Nearly a year to the day after President Obama signed the Recovery Act, HUD's Deputy Secretary Sims was joined
by Beaver Street Enterprise Center Director, Jackie Perry, FreshMinistries' Board members, city officials and representatives from local congressional offices, in praising the Beaver Street Center's successes. Sims indicated
that one year later, the evidence is clear - and growing by the day - that the Recovery Act is working to lay a new foundation for economic growth.

"The Beaver Street Enterprise Center is another example of the investments we are making to enhance business development, create jobs and grow local economies," said Sims. "The City of Jacksonville, and this facility, should be seen as a model of the effective use of Recovery Act funds, creating construction and new jobs for local residents while increasing energy efficiency and reducing future utility costs of this facility."

The Beaver Street Enterprise Center received over $925,000 in Recovery Act Funds to expand its small business incubator capabilities to support and attract tenants with the capability of creating high-value, high-wage jobs to counter Jacksonville's urban core high unemployment rate. The Center's expansion will use green construction processes with a goal to become LEED certified; create and retain 125 new full-time jobs with 51% employing low-
to moderate-income workers; transform a 1-story, 7,300 sq.ft. warehouse into 2-story, 13,000 sq.ft. green state-
of-the-art facility for high-growth enterprises; serve 22 existing businesses and 12 new businesses; work toward restoring economic health in Jacksonville's core city through nurturing small businesses that create jobs and neighborhood services.

The Beaver Street Enterprise Center began nearly seven years ago as an initiative of FreshMinistries. With the goal
to nurture and grow small businesses in the urban core, it has become one of the country's most widely recognized and flourishing business incubators. Expansion of the facility is scheduled to break ground on March 1, 2010.

HUD is committed to implementing Recovery Act investments swiftly and effectively as they generate tens of thousands of jobs, modernize homes to make them energy efficient, and help the families and communities hardest
hit by the economic crisis. The Recovery Act includes $13.61 billion for projects and programs administered by HUD, nearly 75 percent of which was allocated to state and local recipients immediately after President Obama signed the Act into law. The remaining 25 percent of HUD Recovery Act funds is being awarded through a competitive process.

In addition, Secretary Donovan and the Department are committed to providing the highest level of transparency possible as Recovery Act funds are administered. It is vitally important that the American people are fully aware of how their tax dollars are being spent and can hold their federal leaders accountable. Every dollar of Recovery Act funds HUD spends can be reviewed and tracked at HUD's Recovery Act website. The full text of HUD's funding
notices and tracking of future performance of these grants is also available at HUD's Recovery Act website.


Content Archived: May 9, 2012