U.S. Department of Commerce Invests $1.1 Million to Establish Technology Accelerator in Grand Forks, North Dakota
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million grant to the city of Grand Forks, North Dakota, to convert a historic downtown building into a technology accelerator. This EDA project, to be matched with $1.1 million in local funds, is expected to create 139 jobs.
“President Biden is committed to helping communities diversify and grow their regional economies,” said Secretary of Commerce Gina Raimondo. “This EDA investment in the Grand Forks Technology Accelerator will provide a new opportunity for technology growth in the state to create a more resilient regional economy.”
“The Economic Development Administration is pleased to support the Grand Forks as it seeks to expand the region’s economy,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This project will renovate two floors of the former Grand Forks Herald building, creating a tech accelerator that will provide support for technology start-ups and create jobs with local tech-accelerator partners.”
“We appreciate the Economic Development Administration’s support of the commendable efforts by the city of Grand Forks to create a healthy, vibrant community and downtown area,” said Governor Doug Burgum. “This project will help attract a 21st century workforce and support the tech-savvy entrepreneurs who are growing and diversifying North Dakota’s economy, making our state an even better place to live, work and raise a family.”
“For more than a decade, we’ve worked to build North Dakota into a global leader in the unmanned aerial systems (UAS) field,” said Senator John Hoeven. “Today’s grant will support the continued expansion of our tech sector in the Red River Valley, bolstering economic growth over the long-term and creating good-paying jobs for local residents. We appreciate EDA for recognizing the benefits of this investment and for working with us to advance this important priority.”
“Whether at Grand Sky or the University of North Dakota, Grand Forks is a leader in emerging technologies with great potential to contribute to our nation’s technological efforts,” said Senator Kevin Cramer. “A technology accelerator will help attract more economic opportunity to the community and create jobs in the process.”
This project was made possible by the regional planning efforts led by the Red River Regional Council, which EDA funds to help 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.