REMARKS AS PREPARED FOR DELIVERY SANDY K. BARUAH ASSISTANT SECRETARY OF COMMERCE FOR ECONOMIC DEVELOPMENT - OPERATION HOPE CHECK PRESENTATION - WASHINGTON, D.C.

WEDNESDAY, OCTOBER 24, 2007

AS PREPARED FOR DELIVERY

Introduced by Congresswoman Eleanor Holmes Norton
(Note: Congresswoman was unable to attend due to a last minute scheduling conflict)

Thank you, Congresswoman Norton, for that introduction.

It’s a pleasure be to here today representing President George W. Bush, and I am pleased to be here today with Congresswoman Norton which proves once again that good economic development is a bi-partisan endeavor.

Congresswoman Norton, I appreciate you making the time to here today and your continued commitment to public service. And since you are my Member of Congress – it is especially good to see you here today.

I would also like to thank John Bryant and the Operation Hope team for the incredible work they do. Over the past several years I’ve got to know John well – I’m proud to call him a friend.

John Hope Bryant, and the Operation Hope he founded, has brought economic self-sufficiency and a sustained spirit of revitalization to America's inner city communities.

I appreciate John’s leadership in empowering communities across America by helping them to gain “a hand up, not a handout.” One of the reasons I’m such a strong supporter of Operation HOPE is that John’s strategy is consistent with the President’s “ownership society” goals – that much good comes from all Americans owning a piece of the American dream.

In addition, the Operation HOPE centers across America help people…help themselves, a key element of John’s “Silver Rights” campaign.

John is one of our nation’s most compelling advocates for poverty eradication, and has been cited by the past four U.S. presidents for his work. John, I thank you for your leadership.

As we know, economic development works best when it is driven at the local level – people coming together for the common good to take control of their economic destiny. That’s what the Economic Development Administration is all about, and that’s what we are celebrating this morning.

The economic performance of the nation as a whole continues to be strong – 3.8% GDP growth last quarter, near record homeownership rates, 4.7% unemployment rate, in fact we are in the longest job expansion in our nation’s history – but there continues to be areas of our nation that are not experiencing the American dream.

And in areas like this part of our Nation’s Capitol, organizations like Operation HOPE are playing an important role in not just contributing to economic growth, but to strengthening communities and families.

President Bush and I are committed that all demographic sectors and geographic areas have an opportunity to participate more fully in the American Dream.

This is not just the “right thing to do” it is critical to our national economic security. The competitiveness of America in the 21st Century global marketplace requires us to utilize all of our resources, and we cannot afford to have portions of our society not contributing to our economic growth.

As the world’s melting pot, our nation’s urban communities offer substantial market opportunities and positive inputs to our economy.

Of course, in order to pursue these opportunities, communities need to take action and they need the right tools. That’s what Operation HOPE is doing…and, of course, a little help from the Federal government never hurts.

Today, along with Congresswoman Norton, I am pleased to officially announce that the U.S. Department of Commerce will invest $600,000 in Operation HOPE to support the expansion of their Small Business Technical Assistance program here in Anacostia.

This investment by the Department of Commerce is consistent with our goal to find solutions that are market-based…solutions that help people become entrepreneurs, help them get into the mainstream of the American financial system, and to help fuel the innovative spirit of America. All of this contributes to our national competitiveness.

This is not our first investment in this Operation HOPE center. In 2003, we invested an additional $600,000 to help establish this Center, which has provided support and guidance to hundreds of small business owners and budding entrepreneurs. I’m proud that our support for Operation HOPE goes much further than what we are celebrating today.

So now, if I could please have Congresswoman Norton join me for the formal presentation of the EDA investment award to John Hope Bryant, Founder and CEO of Operation HOPE.

On behalf of President George Bush, it is my pleasure to present Los Angeles Operation HOPE with this Department of Commerce check for $600,000. Congratulations….

Accepting the check is John Hope Bryant, Founder and CEO of Los Angeles Operation HOPE.

# # #