|Program||# of Grants||EDA Funds|
|*From prior year recoveries.|
During fiscal year 2012, EDA awarded 15 grants totaling $2.7 million. These grants support ongoing strategic economic development designed to bring together the public and private sectors in the creation of an economic development roadmap to diversify and strengthen the regional economy. These investments are expected to create or retain 645 jobs according to grantee estimates.
Investment Spotlight: EDA Construction Investment Promotes Growth of Life Science Cluster
Located in southeastern Massachusetts, Myles Standish Industrial Park in Taunton is a sprawling industrial campus hosting a diverse array of 100 companies employing approximately 7,400 residents of southern Massachusetts and northern Rhode Island.1 Despite high market demand for space in the Park which would provide new business growth opportunities, the Park lacked the infrastructure it needed to expand.
With southeastern Massachusetts fighting high unemployment rates, local officials needed to capitalize on this critical growth potential. In May 2012, EDA awarded $1.6 million to the City of Taunton and the Taunton Development/ MassDevelopment Corporation to begin the $3 million Phase IV expansion of the Park. This EDA-supported project has helped construct six construction-ready sites for new industrial development. With Phase IV nearly complete, the Park is now able to embark on a Phase V expansion to host the City’s Life Sciences Center. This newest development will support the state’s long term goal of expanding life science-related educational and job placement opportunities in southeastern Massachusetts. Market analysis indicates that Phase IV alone is expected to provide 466 new full-time jobs, while full build out of Phases IV and V can facilitate nearly 2 million square feet of space for business and industry and the potential to host 2,200 job slots.
1 Source: http://www.tauntondevelopment.org/msip/index1.htm