U.S. Department of Commerce Invests Over $1 Million to Expand Successful Business Incubator in Star, North Carolina
Contact: Public Affairs Department, (202) 482-4085
Thursday, July 19, 2012
WASHINGTON - Acting U.S. Commerce Secretary Rebecca Blank today announced a $1.175 million Economic Development Administration (EDA) grant to the city of Star, North Carolina, to expand the STARworks Center for Creative Enterprise incubator. The investment is expected to create 50 new jobs and generate $1.5 million in private investment, according to grantee estimates.
"This $1.175 million EDA investment in North Carolina is an example of the Obama administration's commitment to supporting innovation and entrepreneurship, which are critical to creating jobs and improving our nation's economic competitiveness," said Acting U.S. Commerce Secretary Blank."The grant announced today will expand the STARworks Center for Creative Enterprise incubator, thereby creating new jobs and continuing efforts to nurture entrepreneurs involved in building the creative, agricultural, and alternative energy sectors of the Central Park region."
The EDA investment will support the expansion of the successful incubator operations and will further promote entrepreneurial growth in this distressed region. STARworks was developed as a business incubator to provide a focused means of and developing creative enterprises for placement into the central business districts of small communities in the region.
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.