OneGeorgia Awards Include $1.5M for TBED

Nearly $1.5 million in grants from the OneGeorgia Authority will go toward specific initiatives promoting technology-based economic development in Georgia. The awards are part of almost $7.5 million in grants and loans being awarded to 16 of the state's most economically distressed communities.

Among the $1.5 million awarded was a $499,910 grant to the Georgia Medical Center Authority for the development of a 14,820-square-foot Life Sciences Incubator. Located in one of Georgia's premier medical research zones and partnering with the Medical College of Georgia, the incubator is expected to create up to 75 jobs within five years by spinning off entrepreneurial start-up medical companies to Tier 1 and 2 counties located in this economically depressed region.

Additional grants of $500,000 and $499,243 were made to other regions for the construction of two technology centers. The centers will nurture start-up technology companies with high growth potential.

All of the awards were made possible through Georgia's Equity Program, which helps communities and regions build the necessary infrastructure for economic development. Project awards are given through three competitive rounds annually and are capped at $500,000.

For more information on the OneGeorgia Authority, visit http://www.onegeorgia.org/.