U.S. Commerce Department Invests $1 Million to Help Foster Regional Collaboration in Mercedes, Texas to Advance Innovation Economy
June 30, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1 million Economic Development Administration (EDA) grant to the Texas Valley Communities Foundation, the city of Mercedes, and the Texas Polytechnic Institute of Mercedes, Texas, to help develop a feasibility study for a "Technopolis Village" planned to advance the innovation economy in the Lower Rio Grande Valley.
The main vision of Technopolis Village centers on innovation: how to enhance and produce positive economic growth that spans the regional economy. The Village will aim to leverage and link technology innovators and the resources of local, higher educational institutions with the private sector to create a technology cluster in the Lower Rio Grande Valley.
"The Obama administration is committed to providing communities with the resources they need to foster job creation and business growth," Locke said. "This EDA grant will support high-skill, living-wage jobs in the Lower Rio Grande Valley and enhance the region's competitiveness by providing a blueprint for collaboration to develop a strong technology cluster."
Technopolis Village is expected to include a polytechnic institution, an innovation science park, incubator facilities and other multi-use space. The feasibility study supported by EDA will provide the city of Mercedes and the Texas Polytechnic Institute with clear priorities for capital improvement projects over the next decade and beyond.
About the U.S. Economic Development Administration:
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation and accelerate long-term sustainable economic growth.