U.S. Department of Commerce Invests $1.8 Million to Expand the Peachtree Corners Technology Incubator in Peachtree Corners, Georgia
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.8 million grant to the city of Peachtree Corners, Georgia, to help expand the Peachtree Corners Technology Incubator in the wake of Hurricane Irma. According to grantee estimates, the project is expected to create 143 jobs, retain 46 jobs and spur $27.5 million in private investment.
“The Trump Administration is continuing to work diligently to help rebuild communities devastated by hurricanes and other natural disasters,” said Secretary of Commerce Wilbur Ross. “The expansion of the Peachtree Corners Technology Incubator will boost entrepreneurship in the region and help local businesses grow and thrive.”
“From Lawrenceville to Savannah, Georgia has the one of the best climates for job creation in the nation,” said Congressman Woodall. “High tech entrepreneurs are flocking to the Seventh District because they have incredible opportunities to build and grow their businesses. I would like to thank President Trump and Secretary Ross for investing in Peachtree Corners. I have seen firsthand how Peachtree Corners Technology Incubator empowers local startups and helps them unlock their true potential. This grant will bolster an innovative hotspot and brings Georgia entrepreneurs one step closer to a better and brighter future.”
This investment funds the acquisition of property for the expansion of the Peachtree Corners Technology Incubator. The Incubator will focus on start-up companies engaged in software development, gaming programs and web applications. This project was made possible by the regional planning efforts led by the Atlanta Regional Commission. EDA funds the Atlanta Regional Commission to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
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.