Commerce Department Investment Supports
June 21, 2010
Contact: John Atwood, (202) 482-4085
South Carolina Entrepreneurs
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.25 million U.S. Economic Development Administration (EDA) grant to the Clemson University Research Foundation (CURF) and Clemson University in Anderson, S.C., to renovate and retrofit a building for use as a business development accelerator. The project is expected to create 300 jobs and generate $12.1 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 EDA grant will create higher-skilled, living-wage jobs by establishing a facility that will provide the technical assistance and equipment needed to help new entrepreneurs market and promote their businesses."
Most of the renovated space will be used for business acceleration, development research and space for new manufacturing start-ups in the high-tech field. Approximately one-fourth of the building will be used as office and conference space for new and existing IT professionals at Clemson University and other organizations having contracts to operate state-sponsored programs.
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.