U.S. Department of Commerce Invests $2 Million in University of Alabama to Expand Economic Resource Center
Contact: EDA Public Affairs Department, (202) 482-4085
September 2, 2016
WASHINGTON – U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the University of Alabama in Tuscaloosa, Ala., to expand the UA Economic Development Resource Center that provides economic development outreach services to businesses, governments and citizens of Alabama.
“Ensuring that our universities have the modern infrastructure they need to provide vital services to local communities is critical to create new jobs and attract private investment,” said Secretary Pritzker. “EDA’s investment to expand the university’s economic development resource center will support the state’s growth of emerging industry clusters.”
The EDA grant will allow the University of Alabama to construct and renovate facilities to house the newly created University of Alabama Economic Development Resource Center. The Center will coordinate the overall economic development outreach services of the university and provide a comprehensive approach to serving businesses, government and citizens of Alabama. Based on input-output modeling projections and specific Alabama economic multipliers, the project will result in the creation of 800 jobs and approximately $186 million in private investment over an eight-year period upon completion of the project.
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.