Department of Commerce Grant Advances Central Texas Technology Commercialization Efforts
August 5, 2010
Contact: Lindsey Pangretic, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.84 million U.S. Economic Development Administration (EDA) grant to Texas State University-San Marcos and the city of San Marcos, Texas, to build a commercialization center that will include wet labs, clean rooms and a bioscience technology incubator to boost high-tech business development and job growth.
"Continuous innovation and bringing new technologies to the marketplace quickly is vital to our nation's competitiveness and economic growth," Locke said. "This EDA grant will establish a commercialization center in San Marcos that will spur innovation and create higher-skill, higher-wage jobs in the region."
This project is funded through EDA's Global Climate Change Mitigation Incentive Fund, (GCCMIF) which supports a green economy by promoting economic competitiveness while enhancing environmental quality. The first tenant recruited by Texas State is a company with intellectual property rights to groundbreaking technology in energy conservation that will result in valuable jobs for San Marcos.
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.