South Dakota State University Receives Commerce Department Grant to Expand Innovation Center
September 9, 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 South Dakota State University (SDSU) Growth Partnership, Ltd., of Brookings, S.D., to help build the second wing of the Innovation Center business incubator facility.
"Continuous innovation and a flow of new technologies to the marketplace are vital to our job creation and competitiveness," Locke said. "The expanded Innovation Center will foster new jobs and innovative research in the Brookings area by providing additional space for innovation-based companies to grow."
"This important EDA funding will allow the South Dakota State University Innovation Campus to continue to build upon the resources and partnerships of the region and keep the state of South Dakota on the cutting edge of clean energy, green technologies, and cutting edge research and development," said Teresa W. McKnight, CEO/Executive Director of the Innovation Campus.
The SDSU Innovation Center, originally completed in 2008, currently houses 16 startup and early-stage companies. The expansion will enable further growth of entrepreneurial activity with the addition of 13,200 square feet to accommodate new tenants. An additional 190 research and small business jobs are expected to be created, according to grantee estimates.
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.