U.S. Department of Commerce Invests Nearly $4.6 Million to Support Startups and Workforce Training in Los Angeles
Contact: Public Affairs Department, (202) 482-4085
Wednesday, September 30, 2015
WASHINGTON – U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding two grants totaling nearly $4.6 million to California State Los Angeles University Auxiliary Services, Inc. and Loma Linda University in Loma Linda, California.
“The Obama Administration is committed to supporting locally driven economic development strategies that enable communities to become more globally competitive,” said Secretary Pritzker. “The EDA investments announced today will allow CSU Los Angeles to provide a place for budding entrepreneurs to transform their ideas into marketable businesses and help Loma Linda University meet the growing demand for skilled health care workers.”
The EDA investments announced today include:
- Nearly $3.2 million to help build a 20,000 square foot bioscience incubator on the campus of California State University Los Angeles (CSULA). The facility will offer meeting areas, small classrooms, and associated wet and dry laboratory space. CSULA largely serves a population of Latino and low-income residents. This project will provide assistance to start-up businesses, which will provide access to jobs in high-tech fields. According to grantee estimates, this project will create 300 jobs and generate $95 million in private investment.
- $1.4 million to Loma Linda University to improve the roadways and offsite infrastructure for the Gateway Health Training Campus. The training programs offered by this campus will offer technical education certificates, opening up opportunities for higher paying careers. According to grantee estimates, this project will create 40 jobs and enable the placement of an additional 500 trainees in the health care field over the next nine years.
About the U.S. Economic Development Administration (www.eda.gov)
The Economic Development Administration marks 50 years of public service, leading 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.