Commerce Department Investment to Help Move BioTech Products to the Marketplace in Wisconsin
May 11, 2010
Contact: John Atwood, (202) 482-4085
Grant helps establish the Midwest BioLink Commercialization and Business Center in Madison
Madison, Wis. - U.S. Assistant Secretary of Commerce for Economic Development John Fernandez today announced a $4.5 million Economic Development Administration (EDA) grant to the city of Madison and the Madison Development Corporation of Madison, Wisconsin to help build the Midwest BioLink Commercialization and Business Center as part of the ongoing recovery efforts following floods and storms in 2008.
"How well we move ideas out of the research lab and into the marketplace is vital to our economic competitiveness," said U.S. Assistant Secretary of Commerce for Economic Development John Fernandez. "The Midwest BioLink Commercialization and Business Center will provide bio and ag entrepreneurs the catalyst to take their technology to the next level and beyond, and exemplifies President Obama's commitment to advancing high-growth industries like biotechnology to benefit the American economy and workers."
"Research and development are essential components of moving Wisconsin forward. The new Midwest BioLink Commercialization and Business Center will further business development in Wisconsin and give researchers the space and opportunities they need to grow and experiment in agriculture and biotechnology," said U.S. Senator Herb Kohl.
"Madison is a perfect environment for growing bioagricultural and sustainable industries," Madison Mayor Dave Cieslewicz said. "This funding will accelerate our efforts to create jobs, leverage local assets, and create an environment for entrepreneurship at the BioAg Gateway."
A secure, state-of-the art facility, BioLink will be a research catalyst, offering the flexibility needed to make cutting-edge breakthroughs and bring them to market efficiently. The space will include controlled environment agriculture manufacturing growth chambers, a plant science greenhouse as well as pilot processing biotechnology lab capabilities.
The Obama administration and the Department of Commerce are committed to helping disaster-impacted communities rebuild for long-term economic growth. This $4.5 million EDA investment in the $7 million Midwest BioLink project will create new economic opportunity and bring higher-skill, living-wage jobs to Madison in the wake of the 2008 storms and floods.
About the U.S. Economic Development Administration (www.eda.gov):
This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.