Cohen Announces More Than $3.6 Million to Spur Job Creation and Small Business in Shelby County

[WASHINGTON, DC] – Congressman Steve Cohen (TN-09) announced today that the Economic Development Growth Engine for Memphis & Shelby County—commonly known as EDGE—was awarded $3,655,504 in federal funding to help create jobs, support economic diversification, and encourage entrepreneurship. The funding comes through the U.S. Department of Commerce’s Economic Development Administration (EDA).

“The American economy is built on small business,” said Congressman Cohen. “Thanks to this funding, small businesses throughout Memphis and Shelby County will benefit from better access to the capital they need to grow and create jobs.”

This investment from the EDA, along with EDGE-contributed funding, will help create a multi-million dollar loan fund to provide Memphis-area small- and medium-sized businesses flexible financing and low cost capital to spur entrepreneurship, innovation, and job creation in Shelby County.