|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||2||$935,648|
During FY 2012, EDA awarded 10 grants throughout the State of Arizona totaling $5.6 million. These investments encourage entrepreneurship, commercialization and disaster resiliency, support the growth of the aerospace and defense industries, and help position Arizona communities to maximize their economic assets and potential. These investments are expected to create or retain 300 jobs according to grantee estimates.
Investment Spotlight: EDA Investment Supports Commercialization and Disaster Resiliency in Northern Arizona
A partnership of the Northern Arizona Council of Governments (NACOG), Northern Arizona University (NAU) and the City of Flagstaff, the Northern Arizona Center for Emerging Technologies (NACET) is a thriving business incubator servicing a variety of service, manufacturing, high technology, science and renewable energy firms. NACET also provides entrepreneurial outreach assistance to clients in the region, including the Navajo, Hopi, White Mountain Apache and San Carlos Apache Indian Tribes. Funded in part by a 2003 EDA investment, the NACET’s Phase I building houses wet and dry lab space that incubate biotechnology and energy companies and fosters commercialization of technologies developed at NAU and in the region. As of 2012, NACET had generated $109.7 million in private sector investment and helped to create 320 new high-skill, high-wage jobs in the more than 25 business that have been assisted by the incubator.
In 2012, EDA awarded $4 million to fund construction of a Phase II business incubator to provide business assistance services for Phase I graduates to accelerate the commercialization of their products. The facility will also serve as an alternative emergency response center for first responders for the efficient delivery of services to communities and tribal nations during natural disasters, a critical community need exposed by extensive flooding in 2011. This EDA investment is expected to create 300 jobs and attract $70 million in private investment.