Press Release

U.S. EDA Invests $1.25 Million to Advance Bio-Science Startups and Create Jobs in Santa Fe, New Mexico

August 9, 2011
Contact: John Atwood, (202) 482-4085

WASHINGTON - Acting U.S. Commerce Secretary Dr. Rebecca Blank today announced a $1.25 million Economic Development Administration (EDA) grant to Santa Fe Business Incubator, Inc., in Santa Fe, N.M., to build a wet lab and make infrastructure improvements to the facility to support bio-science startups.

"Encouraging innovation and bringing new technologies to the marketplace are critical to creating jobs and improving our nation's economic competitiveness," Blank said. "This EDA grant will provide the critical updates needed to expand the Santa Fe Business Incubator so it can help more entrepreneurs and startup companies grow and create jobs."

"On behalf of our community and region, we are grateful to the U.S. Economic Development Administration and all our supporters and partners for this opportunity," said Marie Longserre, President and CEO of the Santa Fe Business Incubator. "We are delighted to be able to build a shared bio-science wet lab at the Santa Fe Business Incubator to support the innovation and commercialization of bio-sciences technologies and help create new businesses and jobs in New Mexico."

In addition to the wet lab, upgrades will be made to mechanical, plumbing and electrical components of the incubator. The improvements will enable developing bio-science companies to advance and commercialize their innovations.

About the U.S. Economic Development Administration:

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.