One Washington-based center dedicated to expanding economic opportunities will be able to grow its operations, thanks to a grant from the federal government.
The nonprofit Hope Center of Anacostia has received a $600,000 award from the U.S. Commerce Department’s Economic Development Administration.
The center is “raising the economic knowledge level” of the area, which will, “in the long term, lead to more business creation,” said Paul Matyskiela, acting regional EDA director. People already in business can “gain a much greater level of sophistication and knowledge” to hopefully grow their business, he added.
The center is one of eight that are part of Operation Hope, based in Los Angeles. The organization’s objective is to “give folks a hand up, not give them a handout,” said Kevin Ross, vice president of communications for Operation Hope.
At the Anacostia center, programs are offered on a variety of financial topics, including credit counseling and financial advising for prospective homeowners — two of the most popular services, according to spokeswoman Victoria Roscoe. Representatives from banks and mortgage lenders such as M&T, Countrywide and Wells Fargo also come to speak to prospective homebuyers.
Entrepreneurial courses are provided as well. So far, nine individuals have started small businesses after using the center’s resources, said Roscoe.
In October, more than 500 people visited the center to use its free cybercafé and take its classes, she said.
This marks the second award for the center. In 2003, it was given an initial $600,000 award to help establish the D.C. branch. The awards are typically given to help communities that have experienced “structural or sudden and severe job losses,” said Matyskiela. The money from the award will be used for personnel costs, he said.
Twelve out of 30 applicants received funding this year in the regional area, about $9.1 million total. This is the only award the economic development office gave to a metro-area entity. The money will be distributed over three years.
