U.S. Department of Commerce Invests $604,114 to Spur Collaboration and Innovation and Create Jobs in the Life Sciences and Healthcare Industries in the Greater Washington Metropolitan Region
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $604,114 grant to Connected DMV, Arlington, Virginia, to develop the Life Sciences & Healthcare Quantum Innovation Hub, a 12-month pilot program to accelerate those industries in the in the Greater Washington, D.C. metropolitan region.
This project will spur collaboration and innovation across the greater Washington metropolitan region, create good-paying jobs, and ensure inclusive and resilient economic growth. This EDA grant will be matched with $151,028 in local funds.
“The Economic Development Administration is dedicated to working with communities to support their locally-driven strategies to expand their economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will support a robust ecosystem for next generation startups and entrepreneurs in the biotech industries to stay competitive, build their companies and invest in the Washington, DC, region.”
“Virginia continues to be the premier location for companies to grow and innovate,” said Governor Glenn Youngkin. “This investment enhances our commitment to economic opportunity in the Commonwealth.”
“I’m glad to see this federal money coming to the Washington metro area to support entrepreneurship and invest in the area’s growing biotech sphere,” said Senator Mark Warner. “This funding will create jobs and help diversify and strengthen the region’s economy.”
“I’m glad Connected DMV is receiving funding for the development of the Life Sciences & Healthcare Quantum Innovation Hub to support the biotech industry,” said Senator Tim Kaine. “As a former Mayor and Governor, I know how critical these partnerships are to create jobs for Virginians and grow our economy.”
“This investment will support the creation of good-paying jobs in Arlington and boost our regional economy while spurring innovation,” said Congressman Donald Beyer (VA-08). “Northern Virginia continues to be a national leader in technology and innovation, and I’m proud to continue to partner with the Administration to support this excellent climate for business and growth.”
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.