Commerce.gov is getting a facelift soon. See the new design.
Syndicate content

Blog Category: Economic Development Administration

Secretary Penny Pritzker Announces $600,000 Investment to Support Entrepreneurship and Job Creation in Louisiana

Secretary Penny Pritzker hears from entrepreneurs at Idea Village in New Orleans, Louisana

Secretary Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding a $600,000 grant to The Idea Village, Inc., of New Orleans, La., to support programs that assist entrepreneurs in building their businesses and creating jobs. Secretary Pritzker is in New Orleans today as part of her nationwide listening tour, and made the announcement at The Idea Village after meeting with local entrepreneurs, mentors and business leaders.

The EDA investment announced today will support more than 300 businesses, according to grantee estimates. Specifically, it will fund additional technical assistance programs, especially in such growing fields as technology, biomedical engineering, and media production; help with expansion of The Idea Village’s successful “Entrepreneur Season,” a six-month-long program of business assistance and education; and support more forums, workshops, and networking sessions that will be offered during New Orleans’ Entrepreneur Week. EDA previously awarded two grants to The Idea Village – $800,000 in 2009 and $400,000 in 2011 – which helped the organization build their capacity to assist entrepreneurs.

To learn more about the U.S. Economic Development Administration, visit www.eda.gov.

Commerce Announces $15 Million to Boost Competitiveness of U.S. Manufacturers

U.S. Secretary of Commerce Penny Pritzker today announced $15 million in U.S. Economic Development Administration (EDA) grants to support 11 Trade Adjustment Assistance Centers (TAACs) in California, Colorado, Georgia, Illinois, Massachusetts, Michigan, Missouri, New York, Pennsylvania, Texas, and Washington that help manufacturers affected by imports adjust to increasing global competition and create jobs.

“The Obama administration is committed to providing communities with the resources they need to succeed in a global marketplace,” Secretary Pritzker said. “The grants announced today will strengthen the competitiveness of the U.S. economy by providing funding for programs that help companies make improvements in such critical areas as advanced manufacturing, engineering, marketing, quality control, information technology, and market development.”

Secretary Pritzker Tours Global Center for Medical Innovation in Atlanta, Georgia

Secretary Pritzker views a prototyping machine at the Global Center for Medical Innovation

Today, as part of her nationwide listening tour, Secretary Pritzker visited the Global Center for Medical Innovation (GCMI) in Atlanta, Ga. GCMI is an independent, non-profit organization that works with universities, research centers, and investors to help accelerate the commercialization of innovative medical technology.

GCMI, which opened in 2010, houses facilities that local entrepreneurs can use to design, engineer, and build their products, and provides access to a growing network of experts that can help bring cutting edge ideas to market. The secretary toured the facility with GCMI executives and CEOs from two of the four startup businesses that reside at GCMI.

During her tour, Secretary Pritzker learned about some of the daily on-site activities at GCMI, including medical device design engineering and prototyping, and explored the organization’s design lab. She also learned about the center’s rapid prototype machine, which is a 3D printer that enables innovators, and entrepreneurs to bring their ideas from concept to reality in a matter of hours. Typically, prototypes take days or weeks to manufacture. GCMI is able to support a relationship between Georgia Tech and Children's Healthcare of Atlanta to develop and commercialize new medical devices for the pediatric market. They are also helping an Atlanta-based entrepreneur and an inventor from Georgia Tech develop a functional prototype to help quadriplegics GAIN greater mobility.

Secretary Pritzker also met with some of the students who are part of GCMI’s apprentice program. This program provides opportunities to students and recent graduates from leading engineering and medical schools around the country who participate in a range of development activities that help bring new medical technology from the lab to the clinic.

U.S. Department of Commerce Announces $2.5 Million in Investments to Strengthen Innovation and Economic Growth Initiatives

U.S. Secretary of Commerce Penny Pritzker announced the winners of the U.S. Economic Development Administration’s (EDA) 2013 University Center Economic Development Program Competition. EDA is providing a total of $2.5 million in grants to 19 colleges and universities in 10 states to run five-year programs that will leverage university assets to promote American innovation and strengthen regional economies. This year’s competition was open to higher education institutions in states supported by EDA’s Austin and Denver regional offices.

“These EDA investments in University Centers are examples of the Obama administration’s commitment to public-private partnerships with higher education institutions that help America stay innovative and competitive in the 21st century,” said Secretary Pritzker. “These 19 grants will help colleges and universities throughout the country support regional entrepreneurship and job creation that are vital to boosting economic growth.”

EDA-funded University Centers provide business solutions and technical assistance to public- and private-sector organizations, and conduct other activities with the goal of enhancing regional economic development. They offer a full range of services tailored to each region’s needs and the institution’s strengths. University Center business solutions include basic and applied research, market research, feasibility studies, product development, strategic and financial planning, seminars and training, and management consultations. These services enhance business productivity, streamline operations, increase quality, and cut costs.  Release

Secretary Pritzker Tours Entrepreneur Center in Nashville, Tennessee

Secretary Pritzker receives a demonstration from one of the entrepreneur inside the Nashville Entrepreneur Center

Today, Secretary Penny Pritzker continued her successful nationwide listening tour with a stop at the Entrepreneur Center in Nashville, Tenn. This was her first stop in “Music City, USA” and provided her with an opportunity to hear how the center supports business start-ups and job growth.

The Entrepreneur Center (EC), a nonprofit business incubator, helps connect entrepreneurs with investors, mentors and resources that are crucial to accelerating the launch of their startup businesses. The EC houses 80 startups and was created through a public-private initiative, the Nashville Chamber of Commerce’s Partnership 2010, in 2007.

Following a catastrophic flood in May 2010, the Commerce Department’s Economic Development Administration (EDA) invested $2.5 million in the EC in 2011 to renovate an historic building, the Trolley Barn, which tripled the facility’s capacity. The investment is also helping mitigate economic impacts of future disasters and helping build a stronger, more disaster-resilient economy.

How EDA is Supporting Critical Infrastructure in a Missouri City

Perryville Industrial Park sign

One of the ways to ensure that America creates an economy that supports good middle-class jobs is by building critical infrastructure that businesses need to thrive and grow. Commerce's Economic Development Administration (EDA) has been at the forefront of such efforts, most recently in Perryville, Missouri, where it is joining with the state of Missouri and local authorities to help pay for improved road access to the Perryville Industrial Park.

Industrial parks are the economic lifeblood of many communities, particularly smaller ones. The Perryville Industrial Park is an excellent example of this, being home to an impressive roster of companies that provide good jobs for residents of Perryville and its surrounding Perry County. These include TG Missouri, a manufacturer of automotive components and a supplier to such companies as Toyota, and Robinson Construction, a specialized builder of industrial and manufacturing facilities.

Readout of U.S. Commerce Secretary Penny Pritzker’s Visit With Commerce Employees in Denver, Colorado

Secretary Penny Pritzker Meets with Commerce Employees in the Denver Office

While in Denver, Colorado, as part of her nationwide listening tour, Secretary Pritzker met with the heads of the Commerce Department’s local offices, including: International Trade Administration’s U.S. Export Assistance Center (USEAC), the Economic Development Administration (EDA), the National Institute for Standards and Technology’s Manufacturing Extension Partnership (NIST MEP), the Patent and Trademark Office (PTO), the U.S. Census Bureau, the Inspector General (IG), and the Minority Business Development Agency (MBDA). In addition to these meetings, she also spoke to employees about their work and ways in which their efforts are supporting economic growth and development in Colorado.

Today’s discussion in Denver served as an extension of an employee town hall she held yesterday in Boulder. The secretary emphasized how their work is crucial to creating a better quality of life for Americans and more opportunities for entrepreneurs and businesses. She also asked employees for their input in the department’s ongoing efforts to protect, promote, and inform what America needs to be competitive and innovative in the 21st century.

These employee engagement opportunities are part of the secretary’s overall efforts to serve as a bridge to the business community so that the public and private sectors can work together to create jobs and opportunities for all Americans.

EDA Investments: Supporting Entrepreneurship and Job Creation

Map of U.S. showing entrepreneurship rates

What do the states of Montana, Vermont, New Mexico, Alaska, and Mississippi have in common? They are, according to a report published this spring by the Kauffman Foundation, Index of Entrepreneurial Activity, 1996–2012, the states that posted the highest rates of entrepreneurial activity in 2012.

According to the Kauffman Foundation report:

• Montanans operate 530 businesses per 100,000 adults, Vermonters and New Mexicans operate 520 businesses per 100,000 adults, and Alaskans and Mississippians operate 430 businesses per 100,000 adults.

• A most important measure—the formation of businesses with employees—held steady from 2011 to 2012: At 0.11 percent (meaning 11 employer businesses per 100,000 individuals), an average of 193,000 new employer businesses were formed each quarter in 2012.

This is important, and good, news about our economy. And these states should be applauded for what they are doing to foster entrepreneurship, which is a driver of economic growth and prosperity.

Support for entrepreneurship is a central part of the Economic Development Administration’s mission as it works to establish a foundation for sustainable job growth and the building of durable regional economies throughout the United States.

Commerce Department Supports Disaster Relief Across the Country

A tornado funnel cloud

Only a few weeks ago, an EF5 tornado ripped through Oklahoma.  The 2013 Atlantic hurricane season just began, and forecasts predict that it will be a very active season. Whenever events like these may occur, the Department of Commerce is ready to help communities across the country prepare for and recover from natural disasters.

The U.S. Economic Development Administration (EDA) is one of the Commerce bureaus that assist in disaster-recovery efforts. Just last month, EDA announced grants totaling $54.1 million for disaster relief to 15 communities in 12 states and territories. For example, EDA announced a $20 million investment that will help redevelop the 20th Street corridor in Joplin, Missouri, where a devastating tornado in May 2011 claimed 161 lives, flattened large sections of the city, and destroyed more than 7,000 housing units.

Some other recently announced recovery projects include:

  • rebuilding a flood-damaged railroad bridge across the Judith River in Montana that provides the sole freight link for numerous farming communities;
  • providing communities in New England that were devastated by Tropical Strom Irene with the means to provide technical assistance to small businesses and local governments; and
  • rebuilding public infrastructure in downtown Minot, North Dakota, an area that was destroyed by flooding of the Mouse River.

These projects are part of a $200 million appropriation made by Congress to EDA to help with long-term economic recovery and infrastructure support in communities that received a major disaster designation in fiscal year 2011.

Obama Administration Announces Make It In America Challenge Accepting Applications Through May 31

Challenge Focused on Encouraging Businesses to Bring Production Back to the United States or Expand Domestic Operations

The Obama Administration today announced that it is accepting proposals through May 31, 2013, for the Make it in America Challenge, a $40 million competition funded by multiple federal agencies that is designed to encourage investment and job creation in the United States. Up to 15 awards will be made to challenge applicants who put forth one plan to accelerate job creation by encouraging re-shoring of productive activity by U.S. firms, fostering increased foreign direct investment, encouraging U.S. companies to keep or expand their businesses—and jobs—here at home, and training local workers to meet the needs of those businesses.

Challenge applicants must submit applications that leverages complementary Federal funding sources to support the development and implementation of a regionally driven economic development strategy. Eligible challenge applicants must demonstrate support of the development and implementation of a regionally driven economic development strategy. Applicants must provide a detailed description of all activities that will be undertaken, a summary of how these activities support the overall project’s goals, and a clear data-driven overview of anticipated impacts. Applicants will be evaluated based on their ability to meet the criteria set forth in Section VI.A of the Federal Funding Opportunity. All proposals must be submitted through www.grants.gov.  

The Make it in America Challenge builds on the Administration’s efforts to encourage companies – large and small, foreign and domestic, manufacturers and service firms – to increase their investment in the United States. The President’s initiatives include eliminating tax incentives for companies that ship jobs overseas and providing tax credits for companies that bring jobs back, investing in American workers to ensure they have the skills they need, modernizing our infrastructure, and taking action to ensure that American businesses and workers are competing on a level playing field.