U.S. Commerce Secretary Locke Announces $1.5 Million Recovery Act Grant to Create Jobs, Boost Development in Moline, Illinois
September 18, 2009
Contact: Bryan Borlik, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.5 million Economic Development Administration (EDA) grant to Renew Moline, Inc., and the Midwest Intellectual Property Management Institute in Moline, Ill., to increase the ability of the Institute to stimulate economic growth and wealth in the region. The project, made possible because of the American Recovery and Reinvestment Act of 2009 (ARRA), is expected to create additional jobs and private investment in the region.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," Locke said. "This grant will help create new jobs and boost private investment in the Moline region by helping to foster an entrepreneurial culture and encouraging the development of new, technology-driven start-ups."
The Recovery Act was signed into law by President Obama on February 17, 2009. It is providing immediate relief for American families and jump-starting billions of dollars in new projects that are creating jobs, improving infrastructure and strengthening local economies.
"This project will foster economic growth and build upon private investment in the Quad Cities," U.S. Sen. Dick Durbin said. "Today's funding through the Recovery Act will enhance the Institute's effort to create good paying jobs that are so important to the region."
"The Midwest Intellectual Property Management Institute will find new uses for existing advanced patented technology and help keep experienced human capital engaged in growth and innovation for new and existing businesses," U.S. Rep. Phil Hare said. "This is a fresh approach to economic development and is an important compliment to the technology corridor anchored by Western Illinois University - Quad Cities."
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.