Press Release

U.S. Department of Commerce Invests $180,000 to Create Jobs, Strengthen Economy in Seaside, California

June 15, 2009
Contact: Bryan Borlik, (202) 482-4085

WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced an $180,000 grant to the University Corporation at Monterey Bay and the Monterey County Business Council of Seaside, Calif., to create new jobs and boost private investment in the Monterey region by helping to build the Institute for Innovation and Economic Development.

"The Economic Development Administration is pleased to partner with the University Corporation at Monterey Bay and the Monterey County Business Council to boost business development and job growth," said Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer. "The Institute for Innovation and Economic Development will create a venue to support the development of innovative economic development approaches, support research and technology development and boost communications and training."

EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.

Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.