EDA Grants Support Regional Innovation

The U.S. Department of Commerce’s Economic Development Administration (EDA) announced a number of grants last week to aid regional innovation and entrepreneurship efforts through infrastructure improvements, the creation of new spaces, and business improvements in regions across the country. The grants fund projects in AR, AZ, CA, ME, MI, and OH.

San Pedro, CA – A $3 million grant to AltaSea business hub will fund infrastructure improvements at City Dock No. 1 at the Port of Los Angeles, which will aid in the development of new ocean-related technologies. The hub will provide access to the deep-ocean and research space to study ocean-related problems. It is expected to create 220 jobs and attract $120 million in private investment over a six-year period.

Phoenix, AZ – A warehouse in Phoenix will get new life as a makerspace through a $3 million grant to the Maricopa County Community College District and Gateway Community. The space will be used by students and individuals to access the tools and equipment needed to generate ideas and develop products.

Akron, OH – A business incubator space will be created with the support of a $2.5 million grant to the city of Akron to help construct the Bits and Atoms Innovation Center. The center will focus on building new technology companies in northeast Ohio and is expected to create 192 jobs and attract $14 million in private investment by 2019.

Kalamazoo, MI – Western Michigan University received a $2.1 million grant to help construct the second phase of Western Michigan University’s Business and Technology Park. To date, the park has generated more than $150 million in investment and created 700 jobs and is expected to support the region’s manufacturing and growing biotechnical industry clusters.

Maine – Critical business and broadband infrastructure improvements, as well as support for businesses affected by recent plant closures, are targets of $1.7 million in grants awarded throughout the state of Maine. 

El Dorado, AR – The South Arkansas Community College will use a $788,587 grant to establish an advanced manufacturing training facility that will provide workforce training programs for students. It is expected to create 152 jobs and attract $150,000 in private investment.