Commerce Department Investment Supports Minnesota Bioscience Sector
May 26, 2010
Contact: John Atwood, (202) 482-4085
Grant to the City of Worthington will Help Region Capitalize on Strong Bioscience and Green Technology Industry Cluster
WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $779,886 grant to the city of Worthington, Minnesota to help build a bioscience testing and training center and business incubator. The project is expected to create 150 jobs and generate $20 million in private investment, according to grantee estimates.
"EDA is thrilled to be working with the city of Worthington to support a new training incubator that will provide the technical assistance and office space needed to bolster the region's strong bioscience and alternative energy cluster," said U.S. Assistant Secretary of Commerce for Economic Development John Fernandez.
"The Worthington area has been a leader in promoting bioscience development in Minnesota," said Congressman Tim Walz. "In tough economic times like we've faced, we must make sure that we are making wise investments that pay dividends. The Worthington Bioscience Testing and Training Center will not only serve as a catalyst to develop smart and informed solutions in agriculture, renewable energy, but will also create 150 good paying jobs in southern Minnesota."
"The bioscience testing and training center as well as the business incubator will not only help to strengthen the existing regional bioscience and green technology industry cluster but will also promote it into a larger-scale player," said Worthington Mayor Alan Oberloh. "The EDA investment helps us diversify the regional economy by supporting the high-tech and renewable energy businesses which are not directly dependent on our agricultural economy."
The project site is located within the existing bioscience industrial park. The EDA grant will help to build a new 7,500 square foot building addition and the remodel an existing 15,000 square foot building.
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.