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U.S. Assistant Secretary of Commerce Fernandez Outlines Plan for Short-Term Recovery; Long-Term Prosperity

August 31, 2010
Contact: Cleve Mesidor, (202) 482-4085

U.S. EDA Announces "Jobs and Innovation Partnership," During NADO Conference

Washington - U.S. Assistant Secretary of Commerce for Economic Development John Fernandez today outlined the economic platform for the U.S. Economic Development Administration (EDA), an agency within the U.S. Department of Commerce. His remarks are available here.

During the speech at the National Association of Development Organization's (NADO) Annual Conference, Building Resilient Regions, Fernandez said, "Today, I'd like to announce the Jobs and Innovation Partnership, EDA's initiative to help build ecosystems where the private sector can flourish and create the connective tissue that will bind together vibrant regional economic ecosystems. At its core, EDA's Jobs and Innovation Partnership seeks to elevate regional innovation cluster development to its proper place in the economic universe - a key driver of future jobs and economic growth."

The goal of EDA's platform is to build on the agency's regional innovation cluster leadership, accelerate the commercialization of research, and share best practices from around the nation.

Before a group of over 500 hundred economic development professionals, Fernandez also highlighted how EDA is collaborating with other agencies to promote and support America's regions:

  • Agencies including EDA, the Department of Education, the Department of Labor and the Small Business Administration, working together through a newly created partnership to advance regional innovation clusters.
  • Seven government agencies, including the Department of Energy, SBA, and EDA, joined together to offer a $122 million grant to create an Energy Innovation Hub. Penn State and the Philadelphia-area consortium, was announced last week as the winner of the competition.
  • This November, EDA and the International Trade Administration are launching a joint trade mission to the Pollutec conference in France, with delegates from communities across the country.

About the U.S. Economic Development Administration (www.eda.gov): This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.