Efforts in Southern Indiana to Move New Technologies to the Marketplace Boosted by Commerce Department Funding
July 23, 2010
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $6.6 million U.S. Economic Development Administration (EDA) grant to the WestGate @ Crane Authority of Crane, Ind., and the Southern Indiana Development Commission to help build the WestGate Academy Conference Centre at the WestGate @ Crane Technology Park. The facility will include a business incubator and conference and training space to serve tech-based start-up companies. The project is expected to create 255 jobs and generate $10.875 million in private investment, according to grantee estimates.
"The American economy depends on the continuous flow of new technologies and new ideas entering the marketplace to keep us competitive," Locke said. "This EDA grant will create jobs in the tri-county area by helping entrepreneurs leverage existing local resources to create new businesses and support regional economic growth."
This EDA investment is being funded under the Second Supplemental Appropriations Disaster Relief Opportunity. Midwest flooding in 2008 severely impacted area manufacturers. This investment will help the area diversify its economy, moving to research and development and higher-technology sectors.
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.