Commerce Department Grant to Help Provide Environmentally Friendly Business Incubator Space in Sault Ste. Marie, Michigan
September 14, 2010
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.3 million U.S. Economic Development Administration (EDA) grant to the city of Sault Ste. Marie, Mich., to help renovate the Soo Industrial Incubator to Leadership in Energy and Environmental Design (LEED) certification standards and help build the LEED-certified Soo Technology Breeder Building technology accelerator. The project is expected to create 55 jobs and generate $3 million in private investment, according to grantee estimates.
"Encouraging innovation and bringing new technologies to the marketplace are critical to creating jobs and improving our nation's economic competitiveness," Locke said. "This EDA grant will help create jobs and foster sustainable business development by increasing the availability of environmentally friendly business incubation and technology accelerator space in the region."
This project is funded through EDA's Global Climate Change Mitigation Incentive Fund (GCCMIF), which is intended to foster a green economy by promoting economic competitiveness while enhancing environmental quality. The accelerator and incubator will provide the Eastern Upper Peninsula region with the ability to help entrepreneurs create products and businesses that will create and retain jobs.
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.