Washington D.C. - Grant programs administered by the U.S. Economic Development Administration (EDA) under the Public Works and Economic Development Act (PWEDA) increasingly support projects to help distressed regions across the country to become more competitive in a science and technology-intensive global economy. The examples below of projects receiving federal PWEDA funds in just the past two months may help inspire similar innovation initiatives in other parts of the country.
Construction/Renovation Grants
$3 million to Delaware Innovation Space, Inc., Wilmington, Delaware, to fund the renovation of an existing building to create a science incubator and multi-tenant collaboration space. The new and improved facility will provide a cost-effective space for start-ups, research laboratories and meeting rooms. The grantee estimates that this investment will help create 657 jobs and leverage $80 million in private investment.
$2.5 million to the Cumberland County Improvement Authority, Millville, New Jersey, to assist in the construction of a new Food Industry Commercialization Center that provides needed flexible spaces for new food production companies to leverage technical assistance resources. The new multi-tenant facility will offer spaces for industrial food processing, shipping and administrative use. Completion of the project will provide regional capacity to grow and retain the food production cluster. The grantee estimates that this investment will help create 190 jobs and leverage $1.5 million in private investment.
$1,987,512 to St. Joseph’s College, Standish, Maine, to fund the construction of a barn, classroom and entrepreneurial space, biomass heating plant and related facilities to establish the Institute for Local Food Systems Innovation. When completed, the new center will help bolster the food production-to-consumption value chain in southern Maine, encourage and support food-business entrepreneurship and innovation, and restore farming and food-related manufacturing throughout the region. The grantee estimates that this investment will create 88 jobs and leverage $2.5 million in private investment.
$1,253,230 to the Lawrence Technological University and the City of Southfield, Michigan, to support the Lawrence Technical University and its strategic partners with construction of the Lawrence Tech Business and Technology Accelerator. The accelerator will integrate the university’s technical resources into the region’s manufacturing base to support the growth of second stage businesses in southeast Michigan. The grantees estimate that this investment will create 33 jobs, save 20 jobs, and leverage $4.4 million in private investment.
$1.01 million to Innovate ABQ, Inc., Albuquerque, New Mexico, to fund the renovation of an existing building to establish the Innovate ABQ bioscience business incubator that will house labs with corresponding office space in Albuquerque. The grantee estimates that this investment will create 155 jobs, save 80 jobs, and leverage $2.5 million in private investment.
$3 million to Delaware Innovation Space, Inc., Wilmington, Delaware, to fund the renovation of an existing building to create a science incubator and multi-tenant collaboration space. The new and improved facility will provide a cost-effective space for start-ups, research laboratories and meeting rooms. The grantee estimates that this investment will help create 657 jobs and leverage $80 million in private investment.
$2.5 million to the Cumberland County Improvement Authority, Millville, New Jersey, to assist in the construction of a new Food Industry Commercialization Center that provides needed flexible spaces for new food production companies to leverage technical assistance resources. The new multi-tenant facility will offer spaces for industrial food processing, shipping and administrative use. Completion of the project will provide regional capacity to grow and retain the food production cluster. The grantee estimates that this investment will help create 190 jobs and leverage $1.5 million in private investment.
$1,987,512 to St. Joseph’s College, Standish, Maine, to fund the construction of a barn, classroom and entrepreneurial space, biomass heating plant and related facilities to establish the Institute for Local Food Systems Innovation. When completed, the new center will help bolster the food production-to-consumption value chain in southern Maine, encourage and support food-business entrepreneurship and innovation, and restore farming and food-related manufacturing throughout the region. The grantee estimates that this investment will create 88 jobs and leverage $2.5 million in private investment.
$1,253,230 to the Lawrence Technological University and the City of Southfield, Michigan, to support the Lawrence Technical University and its strategic partners with construction of the Lawrence Tech Business and Technology Accelerator. The accelerator will integrate the university’s technical resources into the region’s manufacturing base to support the growth of second stage businesses in southeast Michigan. The grantees estimate that this investment will create 33 jobs, save 20 jobs, and leverage $4.4 million in private investment.
$1.01 million to Innovate ABQ, Inc., Albuquerque, New Mexico, to fund the renovation of an existing building to establish the Innovate ABQ bioscience business incubator that will house labs with corresponding office space in Albuquerque. The grantee estimates that this investment will create 155 jobs, save 80 jobs, and leverage $2.5 million in private investment.
