U.S. Commerce Secretary Gary Locke Announces $3.5 Million Grant to Create Jobs, Strengthen Economy in Cambridge, Massachusetts
September 17, 2009
Contact: Bryan Borlik, (202) 482-4085
EDA Grant Expected to Create 180 Jobs and Generate $30 million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $3.5 million Economic Development Administration (EDA) grant to Fraunhofer USA in Cambridge, Mass., to help build the Fraunhofer Center for Sustainable Energy on the Massachusetts Institute of Technology campus. The project is expected to create 180 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. "This grant will help the Boston region diversify its economy and create new jobs by establishing a business incubator and workforce training facility that will boost the emerging green-industry cluster."
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 investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.