Press Release
U.S. Department of Commerce Invests $1.1 Million to Boost Entrepreneurship in Springfield
Contact: EDA Public Affairs Department, (202) 482-4085
October 5, 2017
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million grant to DevelopSpringfield Corporation of Springfield, Massachusetts, to help increase the local capacity to support entrepreneurial development in the downtown area.
“The Trump Administration is committed to ensuring that communities across the country have the resources they need to spur job growth and create new opportunities for residents,” said Secretary of Commerce Wilbur Ross. “Due to the work of local leaders, this new space will help launch new entrepreneurial ventures that will transform Springfield’s economy.”
The project will renovate an existing building to provide work space, small individual offices with shared services, and a large meeting/function room suitable for workshops, training, business conferences and other business development needs. The project supports a transitioning economy in Springfield from large manufacturing to a smaller, more specialized manufacturing cluster and an expanding service industry.
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.