$2.35 Million U.S. Commerce Department Grant to Foster Green Business Growth and Job Creation in San Jose, California
September 22, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - Acting U.S. Commerce Secretary Rebecca Blank today announced a $2.35 million Economic Development Administration (EDA) grant to the city of San Jose, Calif., to help transform a warehouse into the new San Jose Environmental Innovation Center. The project supports San Jose's Green Vision policy by using photovoltaic panels and a solar tracking system to make the building self-sustaining and is expected to create 1,000 jobs and generate $15 million in private investment, according to grantee estimates.
"Continuous innovation and a flow of new technologies to the marketplace are vital to job creation and economic competitiveness," Blank said. "This EDA grant will provide the critical updates needed to launch the San Jose Environmental Innovation Center so it can help more green technology entrepreneurs and startup companies grow and create jobs."
The renovated facility will meet a critical need in San Jose by providing assistance to innovative clean technology companies in Silicon Valley, including clean technology job training and workforce training opportunities for those seeking to enter the green economy. The project is being funded through EDA's Global Climate Change Mitigation Incentive Fund (GCCMIF), which is intended to promote a green economy by enhancing economic competitiveness as well as environmental quality.
Putting Americans back to work is President Obama's top priority. His American Jobs Act would put more money in the pockets of American families and do so without adding a dime to the deficit. In California, 710,000 firms would receive a payroll tax cut under the American Jobs Act, and a typical household in California, with a median income of around $56,000, would receive a tax cut of around $1,740.
About the U.S. Economic Development Administration (www.eda.gov):
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.