U.S. Commerce Secretary to Present Largest Economic Development Grant Given by the Bush Administration to Alameda, California

U.S. Commerce Secretary Don Evans will present the Bush Administration’s largest-ever economic development grant. The grant will be given to Advancing California's Emerging Technologies (ACET) to expand the Oakland Alameda Bio Tech Incubator on the grounds of the former Alameda Naval Air Station and shipyard.

EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA partners with states, units of local government and community nonprofit organizations in economically distressed areas, regions and communities in order to alleviate conditions of poverty and substantial and persistent unemployment and underemployment.

WHO: U.S. Secretary of Commerce Don Evans.

WHAT: Investment check presentation ceremony to ACET to expand the Oakland Alameda Bio Tech Incubator.

WHERE: ACET: Advancing California's Emerging Technologies, 851 W. Midway Avenue, Alameda, California 94501. Phone - 510-749-3977.

WHEN: Tuesday, August 27, 2002 at 12:45 pm.