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Blog Category: Economic Development Administration

Acting Secretary Blank Applauds Local Economic Development Efforts and Announces Strong Cities, Strong Communities Challenge Winners

With Blank are Denise Turner Roth, Greensboro City Manager and Robbie Perkins, Mayor of Greensboro

Acting Commerce Secretary Rebecca Blank traveled to Greensboro, North Carolina yesterday, where she discussed the Commerce Department’s initiatives to strengthen the city and the region, spurring economic development and creating jobs. Over the past few years, local officials have shared how the federal government could best help cities that were hit hard in the recession and in the years leading up to it. They suggested:

  • Combining federal, state and local resources to help cities that were poised to reinvent themselves;
  • Requiring effort and money by both federal and local governments;
  • Including an element of competition in order to make sure that the money went to the places that were best able to use it.

The result was the Strong Cities, Strong Communities (SC2) Challenge. The goal of the competition is to generate innovative ideas, strategies, and perspectives that cities can use to develop long-term economic and job growth plans. Acting Secretary Blank announced that Greensboro, North Carolina; Hartford, Connecticut; and Las Vegas, Nevada are the winners of the Obama administration’s SC2 Challenge. These grants will contribute to stable, long-term growth that will benefit families and businesses in each city and throughout each state. 

Energy House in Delaware Is Retraining and Giving Former Auto Workers a Leg Up in the Job Market

Energy House at Delaware Technical and Community College’s Georgetown campus was built with financial support from the Economic Development Administration.

Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic Development

An impressive new training facility opened this spring at Delaware Technical and Community College’s campus in Georgetown and is expected to retrain former auto workers for new jobs in the emerging green sector. Energy House, designed to resemble an actual residence, serves as an educational lab where these workers can get a new start by learning about innovative energy-efficient technologies and renewable materials. Programs will fill a pressing need to train workers and will help strengthen the economic competitiveness of the Delaware region.

At the green building technology and alternative energy systems training center, students are being trained for the jobs and industries of the future. Participants are being prepared to work as skilled technicians who can install efficient heating and cooling systems and windows; retrofit homes to save electricity; and build and install solar panels, wind turbines, and other clean energy technologies. 

Acting Secretary Blank Announces Grants to Establish Proof of Concept Centers for Emerging Technologies

$7 million invested in seven communities to help entrepreneurs out-innovate the world and create American jobs.

Today, Acting U.S. Commerce Secretary Rebecca Blank visited the University of Virginia in Charlottesville, Va. today, where she announced the winners of the third round of the i6 Challenge, a national competition to advance American innovation, foster entrepreneurship, increase the commercialization of ideas into viable companies, and create jobs. The initiative seeks to accelerate innovative product development, spur the formation of start-ups, and create small businesses by supporting Proof of Concept Centers at universities and research consortiums across the country, which are helping to jumpstart the production of emerging technologies and revolutionize manufacturing processes.

In her remarks, Blank noted that job creation remains the Administration’s top priority, noting a number of economic studies suggesting that innovative new products and processes account for about two-thirds of U.S. economic growth since World War II. Innovation also drives increases in productivity and rising incomes. The Proof of Concept Centers funded by the i6 Challenge grants support innovation by providing the tools and the support entrepreneurs and researchers need to take new products to market, launch businesses, and to create jobs. Proof of Concept Centers incorporate a range of services, such as technology and market evaluation as well as business planning, that are critical to regional economic growth and job creation.

Job-Creating Culinary Center Opens in Philadelphia with EDA Support

Artist's rendering of exterior of the new Center

Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic Development

Providing office space and support for budding entrepreneurs to develop and grow their businesses while boosting the synergies offered by their developing ideas, skills, and products is a critical economic development strategy.

This is exactly what I saw today in Philadelphia, when I attended the opening of the new Dorrance H. Hamilton Center for Culinary Enterprises (CCE), an innovative facility that will provide shared business space for food entrepreneurs from throughout the Philadelphia region. This center was developed by Philadelphia’s The Enterprise Center, a business accelerator that since 1989 has supported local entrepreneurs and spurred economic growth in Philadelphia, and the Economic Development Administration (EDA), which in 2010 provided $1.5 million to support the construction of the CCE.

The new CCE building contains 13,000 square feet of space, and includes four state-of-the-art commercial kitchens that will be available for rent to culinary entrepreneurs, an eKitchen Multimedia Learning Center, and retail space for tenants.

With EDA Help, New Mexico’s Economy Gets a Boost from Sandia Science and Technology Park

Sandia Science & Technology Park and Economic and Development Agency logos

Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic Development

Last spring, I visited one of the premier technology parks in the southwest, the Sandia Science and Technology Park (SSTP) in Albuquerque, New Mexico. Over the past five years, the Economic Development Administration (EDA) has invested $1.8 million in this industrial park, funding  infrastructure improvements such as new, high-speed fiber optic lines that help the businesses located there leverage advances in technology that have been generated by nearby universities and federal labs.

With the recent release of a report by the Mid-Region Council of Governments, we have learned what a smart investment that turned out to be. According to the authors, the $1.8 billion in economic activity generated by Sandia since it was established in 1998 has brought more than $73 million in tax revenue for the state of New Mexico and $10.4 million for the city of Albuquerque.

The effects on employment in the region are even more impressive. In addition to being responsible for nearly 2,500 direct jobs, the report found that SSTP generated more than 4,100 indirect jobs—meaning that for every job at the technology park, an additional 1.7 jobs were created in the region. Combined, these direct and indirect jobs generated $3.06 billion in wages. Average salaries at SSTP—estimated to be $73,728 in 2011—significantly exceed the average for the Albuquerque metropolitan area, which was $42,332.

New, Innovative, Online Tool to Help Weigh Benefits of Economic Development Projects Using the Triple Bottom Line Model

Screenshot of Triple Bottom Line Tool website homepage

Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic Development

Traditionally, the effectiveness of an economic development investment has been measured primarily by the number of jobs created and dollars leveraged. While critically important, the U.S. Commerce Department’s Economic Development Administration (EDA) has partnered with Portland State University to create an innovative, web-based tool that takes into account a broader array of economic, environmental, and social impacts to more fully evaluate the potential impact of projects. This new Triple Bottom Line (TBL) Tool will help economic development practitioners, investors, and decision-makers assess, compare, and communicate the viability of potential investments.

While the TBL approach has been recognized as a valuable analytical tool among businesses—including major U.S. companies such as General Electric, Unilever, Proctor and Gamble, among many others—it has not been widely applied or considered within the public sector or by the economic development profession. The new TBL Tool developed through EDA’s investment represents a significant step forward for expanding the application of the concept by planners, nonprofits, community organizations, and governments to help support the assessment and decision making of critical development decisions.

Acting Secretary Blank Talks Insourcing and Job Creation at Economic Development Forum

Acting Secretary Blank at International Economic Development Summit in Washington

Guest blog post by Dr. Rebecca Blank, Acting Secretary of the U.S. Department of Commerce

This morning, I joined economic development leaders from around the country to discuss ongoing efforts to create jobs and grow the U.S. economy. The Economic Development Forum was hosted by the U.S. Commerce Department’s SelectUSA initiative, in partnership with the White House Business Council and the International Economic Development Council (IEDC), the world’s largest professional organization of economic development practitioners.

The forum provided an opportunity to discuss the Obama administration’s efforts to support U.S. businesses and encourage companies to bring good jobs back to America, a trend called insourcing.

Both American and international firms are increasingly looking for opportunities to invest in the U.S. And businesses are not only choosing to bring jobs back, but they are also making decisions to expand here instead of shipping jobs overseas. These investments mean that more products will be made in America. That means more jobs and greater economic security for families across this nation.

EDA: Helping Businesses in Columbus, Ohio, Grow and Hire

Erskine (left) at presentation showing time-lapse sequence of the building of the Ohio Supercomputer Center. (Photo: the Ohio Supercomputer Center)

Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic Development

By helping regions plan for their economic future, and by giving businesses access to the advanced tools they need to compete in the 21st century, we can make sure that the U.S. economy grows and creates the well-paying jobs that are key to our long-term prosperity. I got a first-hand look at such efforts today in Columbus, Ohio, when I had the opportunity to participate in a roundtable with local economic development leaders and visit the facilities of the Ohio Supercomputer Center.

One of the groups I met with was Columbus 2020, a regional public-private partnership that was created to leverage central Ohio’s research and academic institutions and its diverse industries, with the goal of better positioning the area to be the fastest growing economy in the country. It is doing that by working to retain and expand businesses already located in the region, attracting new businesses, leveraging the region’s research assets (such as its colleges and universities) to make it more attractive to entrepreneurs and startup businesses, and improving the region’s civic infrastructure.

Obama Administration to Strengthen Rural Alaskan Community Economy

Aerial view, Bristol Bay Lowlands (Alaska)

Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic Development

Over the last three and a half years, President Obama has committed his administration to make investments to strengthen rural economies and create jobs. That includes Alaska’s Bristol Bay region.

The Bristol Bay Jobs Accelerator Project, an economic growth effort by the Bristol Bay Native Association in Dillingham, Alaska is one of the winners of the multiagency Rural Jobs and Innovation Accelerator Challenge, an initiative that pools the resources of 13 federal agencies to support innovation in rural regional industry clusters.

While Bristol Bay has a wealth of natural resources, it has struggled to leverage those assets to fuel long-term, sustainable growth. The area, for example, is one of the world’s premier fishing grounds for sockeye and king salmon, with millions of fish returning to Bristol Bay and its tributaries each year to spawn.

The Bristol Bay Jobs Accelerator Project, representing a consortium of 31 Alaskan tribes, will support the fisheries and seafood processing industry cluster located in Bristol Bay. The goal is to assist distressed rural communities in the region by leveraging local assets, building stronger economies, and creating regional linkages.

Obama Administration Holds Rural Swing in North Carolina and Louisiana to Promote Jobs and Innovation

EDA Jobs and Innovation Accelerator Challenge Logo

Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic Development

Over the next two days, I will join several colleagues for a rural swing in North Carolina and Louisiana to promote jobs and innovation. Along with Deputy Under Secretary for USDA Rural Development Doug O’Brien, Appalachian Regional Commission Federal Co-Chair Earl F. Gohl, and Delta Regional Authority Federal Co-Chairman Christopher Masingill, I will attend events in rural America and tour two projects that were among the 13 winners of this year’s Rural Jobs and Innovation Accelerator Challenge.

The Rural Jobs Accelerator—designed by the Taskforce for the Advancement of Regional Innovation Clusters and the White House Rural Council—is a joint effort of 13 federal agencies, working together to help accelerate economic and job growth across rural regions. It is a great example of collaboration across federal agencies to pool resources and identify new, innovative ways to create an economy built to last.

Since taking office three and one-half years ago, President Obama has been deeply committed to strengthening rural economies all across America—helping to create jobs, support business growth, and expand opportunity for rural Americans. The administration has advanced new policies and initiatives and made significant investments in rural communities. The Rural Jobs Accelerator builds on those goals, seeking to foster job creation and business innovation in these communities.