U.S. EDA Awards $1 Million to Florida's Treasure Coast to Expand its Regional Technology Cluster
August 10, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - Acting U.S. Commerce Secretary Dr. Rebecca Blank today announced a $1 million Economic Development Administration (EDA) grant to the St. Lucie Board of County Commissioners; the Treasure Coast Research, Education and Development Authority; and the Fort Pierce Utilities Authority of Florida to make infrastructure improvements that will better serve the businesses of Treasure Coast Education and Research Park. The project is expected to create 120 jobs and generate $60 million in private investment, according to grantee estimates.
"Improving regional infrastructure in support of business growth is critical to our ability to create jobs and remain competitive," Blank said. "This EDA-funded project will help bring high-quality jobs and economic growth to the Treasure Coast by fueling the expansion of the region's technology cluster."
This EDA grant will support U.S. operations for a new European-based company that is locating its alternative energy research and assembly facility in the park. The company plans to build a solar photovoltaic array and chilled water unit that will aid park tenants by ensuring a large percentage of the business park is self-sustaining.
The Treasure Coast Education and Research Park strives for economic diversity and security in the Treasure Coast region. The park's mission is to find solutions to society's biggest challenges and capitalize on subsequent research opportunities for the benefit of all.
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.