|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||3||$3,061,621|
During Fiscal Year 2013, EDA invested $5,113,617 in 10 projects in the State of Georgia. These projects are expected to create or retain 178 jobs and leverage $39,000,000 in private investment, according to grantee estimates. EDA’s investments help Georgia communities achieve bottom-up, locally-defined economic development goals and strategies.
EDA offers a complementary, balanced portfolio of grant programs designed to help rural and urban communities grow their private sectors and create jobs.
Investment Spotlight: Fab Lab and Innovation Incubator
Students at Georgia Southern University have no shortage of creative ideas. They only lacked a place where they could make those ideas a reality, where ideas could move from the drawing board to the marketplace. Seeking to assist innovative small businesses and help reinvigorate downtown Statesboro, the city and the university worked collectively to establish the Georgia Southern University (GSU) Fab Lab and Innovation Incubator.
With a $1.1 million investment from EDA, the facility will assist area entrepreneurs in developing their proof of concept and area manufacturing businesses in developing rapid prototypes. The business incubator will offer start-up companies and small businesses in the region access to resources that will help them grow and compete in a global economy. The Fab Lab itself will be a place for people to design, build, test, and introduce new products into the marketplace, thereby creating new jobs and advancing the city’s economic development.
When fully operational, the Fab Lab and Innovation Incubator will support 20 businesses and provide access to a digital fabrication laboratory. The state-of-the art facility will include office space, cutting-edge technology like 3D printers for modeling, plasma cutters, electronic finishing stations and other equipment and tools to help entrepreneurs construct working prototypes— bringing low-cost manufacturing to the masses. Once completed, early estimates show that over 240 jobs will be created and over $40 million in new private investment will be generated in the project’s first nine years.