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A bureau within the U.S. Department of Commerce


Press Release

U.S. Commerce Secretary Gary Locke Announces $8.2 Million Grant To Create Jobs, Strengthen Economy in Gainesville, Florida

WASHINGTON - U.S. Commerce Secretary Gary Locke today announced an $8.2 million Economic Development Administration (EDA) grant to the University of Florida, Gainesville, Fla., to help build the Florida Innovation Hub tech business incubator. The project is expected to create 300 jobs and generate $30 million in private investment, according to grantee estimates.

"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," Locke said. "The Florida Innovation Hub will provide the region's emerging and existing start-up companies with the vital office and laboratory space needed to pursue the commercialization of technologies developed at the University of Florida and by its research partners."

The Department of Commerce is a voice for Main Street businesses. It focuses on creating jobs by fostering innovation and opening markets to U.S. products.

EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.

Additional information on how EDA grants are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.