U.S. EDA Invests $1 Million to Spur Innovation in Aquaculture and Alternative Biofuels Clusters in South Dakota
Contact: Public Affairs Department, (202) 482-4085
Friday, July 13, 2012
WASHINGTON - U.S. Acting Assistant Secretary of Commerce for Economic Development Matt Erskine today announced a $1 million Economic Development Administration (EDA) grant to the Brookings Economic Development Corporation of Brookings, South Dakota, to help build a Technology Commercialization Center in the Telkamp Industrial Park. The Center will house pilot scale validation projects to commercialize public and private sector research, providing a broad range of commercialization services to small and medium-sized businesses and entrepreneurs designed to bridge the gap between university research and business development to boost the region's growing aquaculture and alternative biofuels clusters.
"Investments in the drivers of innovation, such as basic research, education, and infrastructure, are key to strengthening the economic competitiveness of the United States," said Erskine. "This new Technology Commercialization Center in Brookings will provide a broad range of commercialization activities to spur business and employment opportunities in the region's budding aquaculture and alternative biofuels clusters."
The Technology Commercialization Center will work to boost innovation and grow the state's aquaculture and alternative biofuels clusters. Job creation will result from the implementation of commercialized aquaculture start-up businesses, biofuels start-up businesses, and potential add-on biofuels production technologies to existing ethanol production plants. The project is expected to create ten jobs at the outset from the two on-site tenants and generate nearly $3 million in private investment.
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.