|Program||# of Grants||EDA Funds|
EDA awarded six grants in the state of Alabama totaling $1.1 milllion. These projects support the state’s network of Economic Development Districts as they build the foundation for long-term economic growth and prosperity and a university center project, which leverages applied research and technical assistance to help communities capitalize on economic development opportunities.
Investment Spotlight: Auburn University Helps New and Existing Businesses Grow
Institutions of higher education are critical players in the development of vibrant economic ecosystems. Universities have significant economic development assets—such as faculty, staff, students, research and proof of concept centers, laboratories, and high-speed broadband networks—to support regional economic growth.
In July 2012, Auburn University’s Auburn Technical Assistance Center (ATAC) was selected as one of ten University Centers in EDA’s eight-state Atlanta region. By leveraging the university’s available resources, ATAC helps businesses, industries, and not-for-profit entities from across Alabama learn how to improve their competitiveness, optimize efficiency, and explore market expansions through a variety of educational and outreach services.
As an EDA University Center, ATAC is also providing its expertise to support winners of the Economic Development Partnership of Alabama’s (EDPA) Alabama Launchpad competition. Alabama Launchpad provides a framework for entrepreneurs in the state to develop their business ideas and to connect with a network of experts, investors, and service providers. By providing unique opportunities to obtain startup capital, receive expert guidance, and establish working relationships within the business, academic, and investment capital communities, Alabama Launchpad is helping increase the odds of success for new entrepreneurs.