Commerce Department Investment Supports Tech-based Entrepreneurial Development in East Central, Minnesota
June 3, 2010
Contact: John Atwood, (202) 482-4085
Project Expected to Create 200 Jobs and Generate $6 Million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.4 million U.S. Economic Development Administration (EDA) grant to Pine Technical College of Pine City, Minnesota to establish the Entrepreneurship Center and Technology Business Incubator.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," Locke said. "Pine Technical College's Entrepreneurship Center and Technology Business Incubator will provide budding entrepreneurs with the technical and outreach assistance, office space, and equipment they need to grow and create critical jobs for the East Central Minnesota region."
The EDA investment will fund the renovation and repurposing of an existing 2,100 square foot building and the construction of an approximate 12,400 square foot addition for use as the new facility.
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.