$250,000 Grant To Help Business Prepare for APEC Summit

By Sonia Isotov

In a joint written statement released earlier this week, Senators Daniel K. Inouye and Daniel K. Akaka announced that Hawaii will receive a $250,000 grant to prepare small business for the Asia-Pacific Economic Cooperation summit.

Over 20,000 visitors are expected in Honolulu and the economic and security needs will be significant throughout the state.

From Nov. 12-20, President Barack Obama and Secretary Clinton are expected to be joined by at least 19 heads of state, cabinet ministers, business leaders and other officials at the Hawaii Convention Center.

“We in Hawaii have a tremendous opportunity to showcase our islands as more than just beaches and good times, but as a place to plan and conduct business critical to the global economy,” said Senator Inouye in a written statement.  “These funds will help small businesses integrate their operations with the unique environment created by the forum.”

APEC brings together leaders from 21 nations, including the U.S., China, Japan, Australia, the Philippines, Mexico, Russia and Korea to discuss trade, investment and other economic issues.

“This grant will help Hawaii’s small businesses share in the unique economic benefits that this year’s APEC forum will bring to the islands,” said Senator Akaka in the written statement,

The statement explained that the Economic Development Administration grant will support the implementation of a program to provide business development assistance to small and medium size business enterprises throughout Hawaii that are aligned with commercial opportunities surrounding the activities of the Asia-Pacific Economic Cooperation forum scheduled for November, 2011.

This project will provide an engagement training program and the production and distribution of APEC Meeting training and orientation materials to local businesses.