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Federal Coordinator Douglas O'Dell Delivers Remarks at Southeast LA Small Business Recovery Conference

Release Date: October 17, 2008

For Immediate Release
Contact: Rebecca Cotton (202) 572-8890

New Orleans, La. – General Douglas O'Dell, federal coordinator for Gulf Coast Rebuilding, told small business owners at today's Southeast LA Small Business Recovery Conference that they are a critical component to the successful rebuilding of the New Orleans and area economy.

"Small businesses create two out of every three new jobs in this country. That's why it's so important to help you build and maintain your businesses because it's critical to the overall rebuilding of this grand city," said O'Dell. "What you learn here today may just be the key that makes a difference in your business tomorrow."

O'Dell noted that the Federal government has already provided more than $126 billion for rebuilding efforts in New Orleans from the 2005 Hurricanes Katrina and Rita. He said $1 billion is available in New Market Tax Credits which is helping finance technology start-up businesses in New Orleans as well as other new development. Another $400 million has been designated for workforce training and development.

"Government at all levels can direct taxpayers' money to various rebuilding projects, but it takes ingenuity and those who are entrepreneurs, small business owners and those with courage to drive the rebuilding of a local community," O'Dell said.

O'Dell encouraged 150 small business community key leaders at a breakfast this morning to take full advantage of all the help offered at the conference in the many facets of business such as financing programs, loans, credit building, leveraging resources and working with Federal, State and local government programs. The conference is sponsored by the Southeast Alliance for Economic Inclusion and the Federal Deposit Insurance Corporation (FDIC).

The Office of the Federal Coordinator for Gulf Coast Rebuilding has been engaged in facilitating and streamlining the recovery effort, providing key federal support and resources to state and local leaders, as well as reinforcing the federal government's commitment to the people of the Gulf Coast.

www.dhs.gov/gulfcoastrebuild

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This page was last reviewed/modified on October 17, 2008.