Department of Commerce Grant Helps to Advance Innovative, Sustainable Technology in South Florida Aquaculture Industry
August 19, 2010
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1 million U.S. Economic Development Administration (EDA) grant to the University of South Florida Board of Trustees of Tampa and Mote Marine Laboratory in Sarasota, Fla., to help build an aquaculture incubator that will encourage businesses and technologies to dramatically reduce the industry's demand for our critical supply of fresh water through recycling and reuse. The project is expected to support 22 start-up companies, creating 149 jobs and generating $5.1 million in private investment within the first three years of operation, according to grantee estimates.
"Continuous innovation and a flow of new technologies to the marketplace are vital to job creation and competitiveness," Locke said. "This EDA grant will create jobs by fostering business development and growth in the aquaculture industry that is sustainable and resource-efficient."
"This collaboration makes excellent use of USF's strengths in marine science and business development and we are gratified to see the Commerce Department recognizes USF's importance to our region and the nation with this grant," said USF President Judy Genshaft. "USF is deeply woven into the fabric of our area's economy through numerous research and development partnerships and projects. This one is expected to have significant global impact and it couldn't have come along at a better time."
The 11,670 square-foot aquaculture incubator will include tanks for a test bed facility, laboratories, a conference room, residence, and office space for the development of aquaculture wastewater treatment technologies. The grant is being funded under EDA's Global Climate Change Mitigation Incentive Fund (GCCMIF), which aims to strengthen the connection between economic development and environmental quality by financing projects that both foster economic development and advance a green economy in distressed communities.
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.