U.S. Department of Commerce Invests $1.4 Million in Endicott College to Help Expand Opportunities in Life Sciences
Contact: EDA Public Affairs Department, (202) 482-4085
August 19, 2016
WASHINGTON – U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding $1.4 million to Endicott College in Beverly, Mass., to support infrastructure improvements that will create jobs and spur private investment in the region’s life sciences sector.
“The Economic Development Administration plays an important role in supporting the Commerce Department’s ‘Open for Business’ agenda which focuses on advancing innovation and strengthening our nation’s global competiveness,” said Secretary Pritzker. “The EDA investment announced today supports business growth in Massachusetts’s distinguished life-sciences sector.”
EDA’s investment will support the construction of a life science and business incubator space at Endicott College’s campus in Beverly. The incubator space will be an extension of the Ginger Judge Science Center and will expand opportunities in the life sciences for startups, and students and faculty, leading to job creation and private investment in the life-sciences in the North Shore region. According to the grantee, this investment is expected to create 335 jobs.
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. To learn more about EDA, visit www.eda.gov.