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Blog Category: Economic Development Administration

Jobs and Innovation Accelerator Challenge Winners Announced

Submitted on September 22, 2011 - 2:30pm
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The Obama Administration today announced the winners of the $37 million Jobs and Innovation Accelerator Challenge, a multi-agency competition launched in May to support the advancement of 20 high-growth, regional industry clusters. Investments from three federal agencies and technical assistance from 13 additional agencies will promote development in areas such as advanced manufacturing, information technology, aerospace and clean technology, in rural and urban regions in 21 states. Projects are driven by local communities that identify the economic strengths of their areas, with funding awarded to the best proposals.

These public-private partnerships are expected to create more than 4,800 jobs and 300 new businesses, as well as retain another 2,400 jobs and train approximately 4,000 workers for careers in high-growth industries, according to grantee estimates. Each of the 20 awards average about $1.8 million per project, and winning clusters will contribute another $13 million in total matching funds.

The winning projects of the Jobs and Innovation Accelerator Challenge announced today include:

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Acting Secretary Blank Encourages Innovation in Green Energy Technologies

Submitted on September 19, 2011 - 10:00am
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Acting U.S. Commerce Secretary Rebecca Blank delivered the keynote address at a green energy conference today hosted by Commerce’s United States Patent and Trademark Office (USPTO), the Economic Development Administration (EDA), the Brookings Institution and the Clean Energy Group at USPTO headquarters in Alexandria, Virginia. The conference was held for policy makers from federal, state, and foreign governments, and industry and academia. Under Secretary of Commerce for Intellectual Property and Director of the USPTO David Kappos, EDA Assistant Secretary of Commerce for Economic Development John Fernandez and Connecticut Gov. Dannel Malloy also participated.

In her remarks, Blank focused on issues facing clean energy development today and ways to overcome obstacles through more strategic state and federal policy. Blank highlighted efforts by Obama administration initiatives aimed at creating jobs, increasing exports and securing America’s energy future. Topics at the forum included technology transfer and commercialization, public investment, procurement and policy, federal and state economic support for clean energy industries, and international collaboration on clean energy technologies.  Remarks

EDA’s Smart Investments Generate Returns, Create Job & Economic Growth

Submitted on September 9, 2011 - 5:45am
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Economic Development Agency Logo

This week, President Obama called for more robust job creation measures in his Joint Address to Congress.  To put Americans back to work, we must make smart investments to support the jobs and industries of the future, and that is what the U.S. Economic Development Administration (EDA) does across the country.

As the only government agency with economic development as its sole mission, EDA leads the national bottom-up job creation and growth agenda by promoting American innovation and building strong regional economic ecosystems to accelerate long-term, sustainable economic prosperity. The agency’s investments have two major goals: creating higher-skill, living-wage jobs and attracting private capital investment. Its diverse portfolio of construction, technical assistance, finance, and investment planning assistance are designed to help communities build upon their regional assets to foster job creation and business expansion. 

The agency’s work is generating real returns. Every $1 dollar in EDA grant funding is expected to leverage nearly $7 dollars worth of private investment. In FY 2010, EDA awarded investments that totaled approximately $285 million, excluding supplemental funds. Of this amount, approximately $191.5 million funded construction projects that are expected to help create or retain about 48,500 jobs and generate nearly $6 billion in private investment, according to grantee estimates at the time of the award.

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Largest-ever EDA Grant Helps To Revitalize Downtown Cedar Rapids & Create Jobs Following Iowa Floods

Submitted on August 30, 2011 - 6:30pm
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Acting Secretary Rebecca Blank and Other Officials Break Ground on the Cedar Rapids Convention Center

Acting U.S. Commerce Secretary Rebecca Blank joined U.S. Rep. Dave Loebsack, Mayor Ron Corbett and U.S. Assistant Secretary of Commerce for Economic Development John Fernandez in Cedar Rapids, Iowa, this week to see how federal funds are making a difference following historic floods that ravaged the city and its economy in 2008.

With the help of a $35 million grant–the largest Commerce’s Economic Development Administration (EDA) has ever awarded –the city is building a new $75.6 million Convention Complex that will serve as a major catalyst for further economic development and investment in the city–creating hundreds of jobs and leveraging millions in private investment. The 435,000 sq. ft. complex will be the second-largest convention and events center in the state upon its completion in the spring of 2013.

Iowa continues to recover from the economic impact of the floods, which interrupted major manufacturing operations, devastated downtown commercial districts, and damaged or destroyed public infrastructure. The Obama administration continues to invest in rebuilding efforts to strengthen local economies across Iowa. More than $1 billion in federal assistance has been awarded to the state to support flood recovery efforts.

Prior to a groundbreaking ceremony for the complex, Blank and Fernandez visited Ovation Networks, a local wireless technology company that was displaced by the flooding in downtown Cedar Rapids. There they announced a new $2.9 million grant to the East Central Iowa Council of Governments to provide additional business assistance and gap financing to companies still recovering from the floods. Three years ago, the Council received $1.5 million from EDA, which they used to assist local businesses like Ovation Networks to rebuild and return to the downtown area.  |  Release  |  Convention Center remarks  |  Ovation Networks remarks 

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Acting Secretary Blank Announces $1.5 Million Economic Recovery Investment in Louisiana on 6th Anniversary of Hurricane Katrina

Submitted on August 29, 2011 - 12:02pm
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Map of Louisiana

U.S. Commerce Acting Secretary Rebecca Blank today announced a $1.5 million Economic Development Administration (EDA) grant to the South Central Planning and Development Commission (SCPDC) of Houma, La., to expand emergency command center operations at the Regional Center for Economic Development and Innovation.

Six years after Hurricane Katrina descended on the Gulf Coast, leading to the devastation of parts of Louisiana, the Commission has developed a new permitting and code enforcement software system that enables digital imaging of buildings to allow city reviewers to electronically monitor buildings instead of having to track down and review paper plans, which hindered the city's ability to inspect buildings for structural damage after the hurricanes. Funding will support the new system, which will increase the efficiency of building inspections following disasters, speeding up the rebuilding process.

“The Obama Administration remains deeply committed to recovery efforts in the Gulf Coast and helping those affected rebuild their communities to be stronger and more resilient than ever before,” Blank said. “This EDA grant is just one of many ways this administration is helping to bring innovation and growth back to the Gulf to advance the region’s economic recovery.”

Gulf Coast communities have been hit hard in recent years, but Louisiana, Alabama, Mississippi and Florida have made significant progress toward recovery since President Obama took office, with help from agencies across the Federal government. The U.S. Commerce Department has invested millions of dollars to jumpstart economic and job growth in the Gulf and has accelerated efforts since President Obama took office. Release

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EDA Promotes Economic and Job Growth in Rural America

Submitted on August 24, 2011 - 3:00pm
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August 24, 2011 - U.S. Assistant Secretary of Commerce for Economic Development John Fernandez, Federal Co-Chairman of the Delta Regional Authority Chris Masingill and Doug O'Brien, Deputy Under Secretary for Rural Development at the U.S. Department of Agriculture, participate in White House Rural Council Roundtable in Pine Bluff, AR.

Guest Blog by John Fernandez, Assistant Secretary for Economic Development.

President Obama has taken significant steps to improve the lives of rural Americans and has provided broad support for rural communities. He signed an Executive Order in June establishing the first White House Rural Council. The Administration has also set goals of modernizing infrastructure by providing broadband access to 10 million Americans, expanding educational opportunities for students in rural areas, providing affordable health care, promoting innovation and expanding the production of renewable energy.  

Last week, as part of his three day bus tour, President Obama stopped in Peosta, Iowa to participate in the White House Rural Economic Forum, which brought together farmers, small business owners, private sector leaders, rural organizations, and government officials to discuss ideas and initiatives to accelerate hiring and spur innovation in rural America. The President has also announced a series of initiatives that leverage existing programs and funding to help small businesses and meet the critical needs in rural communities. In the coming weeks, the President will put forth additional proposals that will help put people back to work and give the middle class greater economic security. Promoting economic and job growth in rural communities is central to these goals.

The U.S. Commerce Department’s Economic Development Administration (EDA) has been investing to strengthen rural economic ecosystems for over four decades. Earlier this week, I traveled to Louisiana, Tennessee and Arkansas with Federal Co-Chairman of the Delta Regional Authority (DRA) Chris Masingill and Doug O'Brien, Deputy Under Secretary for Rural Development at the U.S. Department of Agriculture to conduct project site visits and participate in White House Rural Council Roundtables in Houma and Bastrop, LA as well as Pine Bluff, AR. We heard from stakeholders in the region about how the federal government has and can be a better partner as we invest in rural economies.

On August 26, 2011, EDA will host a webinar to discuss best practices to promote rural small business development. White House Rural Council members Chris Masingill of DRA and Federal Co-Chairman of the Appalachian Regional Commission (ARC) Earl Gohl will share best practices and successes with close to 400 participants.

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Winning the Future in Detroit: Public-Private Partnerships Advance Economic Transformation

Submitted on August 10, 2011 - 9:15am
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Members of the Detroit Regional Chamber pictured meeting with Fernandez and Baruah

Guest blog post by John Fernandez, U.S Assistant Secretary of Commerce for Economic Development, Department of Commerce's Economic Development Administration

Last week, I had the pleasure of visiting Detroit, Mich., to see firsthand how close collaboration between the public and private sectors is working to transform the region’s economy and create the businesses and jobs of the future.  I was pleased to be joined by Sandy Baruah, President and CEO of the Detroit Regional Chamber and also my predecessor at the U.S. Department of Commerce during the Bush administration. 

The trip was a great opportunity to witness how the economic landscape in America’s "Motor City" is being transformed, particularly around the emerging and robust information technology and robotics cluster, which is thriving due to the city’s skilled talent pool, affordable retail opportunities and urban attractions such as the Fox Theater and Detroit Opera House.

There is something positive in the air in Detroit and the local economy is reaping the benefits. From the mayor, to members of Congress, to business leaders, to community stakeholders—there is a shared commitment to strengthen the city and create new jobs. Vibrant public-private partnerships are being leveraged and driving growth.

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U.S. EDA Invests in Rural America—West Virginia Receives Over $5 Million to Advance Innovation Economy

Submitted on August 2, 2011 - 11:00am
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Aerial view of Tech Park

Guest blog post by John Fernandez, U.S. Assistant Secretary of Commerce for Economic Development, U.S. Economic Development Administration

On August 1, 2011, the U.S. Commerce Department’s Economic Development Administration (EDA) invested $5.25 million in the West Virginia Higher Education Policy Commission of Charleston, W. Va., to upgrade a key research lab building in South Charleston’s West Virginia Regional Technology Park to help attract rural small businesses. The effort is expected to create an initial 96 jobs and an additional 9,000 jobs over the long term.

The facility will provide leased incubator space to high-tech start-up companies in the chemical, energy, and advanced materials industries. The renovations will result in significant energy savings for the State and businesses working in the facility, reducing operating costs by nearly 50 percent annually. Start-up companies and entrepreneurs in the park will conduct innovative product and process research, testing and business development, and will also have manufacturing capacity. The building will also include research and teaching facilities for Marshall University, West Virginia University, and four community colleges. 

This rural investment enjoys wide Congressional and State support.

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Jobs of the Future Today

Submitted on July 19, 2011 - 1:45pm
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Logo for WET Center

Guest blog post by John Fernandez, U.S. Assistant Secretary of Commerce for Economic Development

The U.S. Commerce Department’s Economic Development Administration (EDA) is investing to create the jobs of the future today. 

In Fresno, California, for example, EDA provided $1.9 million to help the Central Valley Business Incubator, Inc. (CVBI) build the Claude Laval Water and Energy Technology (WET) Incubator located on the campus of Cal State Fresno.  This vital incubator provides start-ups access to active research within the university’s labs and state of the art facilities to advance cutting edge research in the use of water to support the agricultural sector while helping grow small businesses.

Since opening their doors four years ago in 2007, WET has helped create and sustain over 15 start-ups that are developing water and energy technology innovations. They are generating real returns, creating hundreds of new jobs for Central Californians and spurring $17 million in private sector investment to help fuel the nation’s economy. One of WET’s graduates recently sold its business for $30 million.

Startups and entrepreneurs like these bring an unparalleled wealth of transformative innovations to market, especially over the past three decades — think of everything from the airplane to the automobile to Amazon.com.  These small businesses are tackling the nation’s challenges in clean energy, medicine, national security, and other fields. They will build the leading industries and jobs of the 21st century.

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Obama Administration’s Strong Cities, Strong Communities Initiative Strengthens Local Capacity to Help Spark Economic Growth

Submitted on July 11, 2011 - 5:45pm
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Guest blog post by John Fernandez, Assistant Secretary for Economic Development, Economic Development Administration

Mayors across the country are working hard to strengthen local economic ecosystems, given the economic challenges cities face today.

As a former Mayor myself, I understand those challenges–How do we create more jobs? How do we attract new businesses? How do we enhance our workforce? And equally as important, how do we leverage the state and federal resources that may be available to help us achieve our economic goals and objectives?

The Obama administration understands these challenges and knows that cities play a vital role in strengthening our nation’s economy.  

We are finding ways to be a better partner, and that is why today the administration launched the Strong Cities, Strong Communities (SC2) initiative in Fresno, Calif., and five other cities: Chester, Pa.; Cleveland, Ohio; Detroit, Mich.; Memphis, Tenn.; and New Orleans, La.

We know that development happens from the bottom up - that the best ideas come from America’s communities. Whether investment comes from the federal government, states, the private sector, or ideally all of the above, resources do more good when they serve a well-developed, robust plan.

In Fresno, for example, this bottom up approach will help the region capitalize on the coming high-speed rail station to improve the downtown area and to build on a successful neighborhood development program to help create new economic opportunity and jobs.

We can’t have a strong national economy without strong cities. The 14 federal agencies participating in this effort are working to break down traditional Washington silos and identify ways to partner more effectively with cities and regions across the country.

This is an important initiative that will help to support cities across the nation, create a new framework for intergovernmental cooperation and strengthen the American economy.