U.S. Department of Commerce Invests $4.3 Million in Ohio to Boost Business Development and Job Growth
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $4.3 million in grants to the State of Ohio to help support local innovation and other economic growth efforts.
“The Trump Administration is committed to spurring innovation efforts among students at colleges around the country,” said Secretary of Commerce Wilbur Ross. “These projects will help support Ohio businesses and workers by providing the education and training necessary to succeed in the global economy.”
“Ohio workers can compete with anyone in the world, and the investments announced today for Shawnee State University and Ohio University will help ensure workers and students in Southeast Ohio secure the resources they need to remain competitive,” said Senator Sherrod Brown. “I’m happy to see EDA recognize the strength of Ohio workers and Ohio universities, and I support any effort that invests in Ohioans and grows our state’s economy.”
The EDA investments announced today are:
- Shawnee State University will receive $2.7 million to renovate the Shawnee State University Kricker Innovation Hub. The Hub will serve as an innovation accelerator, facilitating local job creation and entrepreneurship. According to grantee estimates, this project is expected to create 200 jobs, retain 40 jobs, and spur $2 million in private investment.
- Ohio University will receive $1.6 million to support the Building Opportunities Beyond Coal Accelerating Transition (BOBCAT) Network which assists communities that have been impacted by the decline of the coal industry. This project will utilize development resources and regional collaboration to accelerate the region’s economic diversification through entrepreneurial growth, workforce development, and identification of infrastructure investment needs.
These projects were made possible by the regional planning efforts led by the Ohio Valley Regional Development Commission. EDA funds the Ohio Valley Regional Development 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.
These projects are funded under the 2018 Assistance to Coal Communities (ACC 2108) program, through which EDA will award funds on a competitive basis to assist communities severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development, and re-employment opportunities.
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.