The following press release was originally posted on Sept. 20, 2018 via the U.S. Economic Development Administration
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.7 million grant to the Iowa State University Research Park of Ames, Iowa, to make critical infrastructure improvements needed to support a manufacturing test lab facility. According to grantee estimates, the project is expected to create 450 jobs and generate $10 million in private investment.
“The American manufacturing sector has experienced a new revival under the agenda set by the Trump Administration,” said Secretary of Commerce Wilbur Ross. “The improved Iowa State University Research Park will accommodate a test lab facility that will help the region to grow its manufacturing sector.”
“Iowa State’s Research Park is truly a center of excellence,” Governor Kim Reynolds said. “It’s a place where industry members learn best practices from one another and pilot and scale-up new technology. This grant furthers the important work being done there. It also highlights two sources of pride for our state: manufacturing, our largest and fastest growing industry, and our public universities, which leverage more than $1 billion in research and development funding each year.”
This investment will provide the necessary infrastructure to the Iowa State University Research Park to allow a major U.S. manufacturer to locate its test lab facility in the park. Current tenants of the park employ more than 1,700 people. Additionally, this project will help the region retain home-grown engineering and technical talent by providing high-quality jobs near the university.
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.
Read the release at www.eda.gov