Commerce Department Announces $1.6 Million for Research Innovation Center in Seattle
September 15, 2010
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.6 million U.S. Economic Development Administration (EDA) grant to the Pacific Northwest Diabetes Research Institute (PNDRI) of Seattle, Wash., to purchase scientific equipment and instruments for innovative start-up companies involved in diabetes research at its Urban Innovation Center business incubator. The project is expected to create 515 research and technical jobs, according to grantee estimates.
"This EDA grant will support business development and strengthen the region's biotech and life sciences industries by providing high-tech companies at the Urban Innovation Center business incubator with access to vital equipment," Locke said. "Encouraging innovation and bringing new technologies to the marketplace are critical to creating jobs and improving our nation's economic competitiveness."
"EDA investment in PNDRI infrastructure creates the opportunity for our Institute to accelerate the growth of the region's life science cluster and expand diabetes research and development at the same time. With this grant, the Institute will be in a position to advance diabetes research toward therapies and cures and contribute to economic recovery," said Richard Omata, Board of Trustees Chair and CEO, the Pacific Northwest Diabetes Research Institute.
The project supports innovation and intellectual property development in the health care industry through acquisition of new technology and upgrades to new scientific equipment and instruments at Seattle's Pacific Northwest Diabetes Research Institute. With this investment, the technology incubator will provide new high-tech companies with the resources they need for growth and development.
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.