U.S. Department of Commerce Invests $10.2 Million to Establish High-Tech Business Incubator at the Innovation Park of Tallahassee
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $10.2 million grant to the Leon County Research and Development Authority, Tallahassee, Florida, to build a 40,000 square-foot, high-tech business incubator within the Innovation Park of Tallahassee to aid in the formation and expansion of technology businesses, disseminating technologies to existing businesses, and establishing new business operations throughout the region. The EDA grant will be matched with more than $6.8 million in local investment.
“President Trump is working every day to empower our nation’s entrepreneurs so they can innovate, thrive, and create new jobs for Americans,” said Secretary of Commerce Wilbur Ross. “The business incubator at the Innovation Park of Tallahassee will advance business growth in the technology industries and support the region’s long-term economic recovery in the aftermath of Hurricane Michael.”
“The Economic Development Administration plays an important role in supporting locally-driven strategies designed to help communities recover from, and build back stronger, following natural disasters,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This project will promote economic resilience to advance Tallahassee technology businesses and startups and support continued business growth for the state of Florida for years to come.”
“I’m pleased to hear that the EDA will be awarding a $10.2 million grant to the Leon County Research and Development Authority,” said Governor Ron DeSantis. “I look forward to seeing the impact and growth this generous funding will have on the region and surrounding community.”
“These funds from the Department of Commerce will greatly benefit Florida’s entrepreneurs,” said Senator Marco Rubio. “The business incubator at the Innovation Park of Tallahassee will serve an important role in the continued growth of Florida’s tech industry and will help the local business community’s ongoing economic recovery from the devastation of Hurricane Michael. I am grateful for the Administration’s investment in Florida’s communities and I look forward to seeing the finished business incubator in Tallahassee.”
“As our businesses reopen and get Floridians back to work, innovation will play a key role in our economic growth,” said Senator Rick Scott. “This $10 million investment to build a high-tech business incubator in the Tallahassee community will help support local entrepreneurs, and encourage businesses development and the creation opportunities for Florida families.”
“The Department of Commerce funding will better equip our local businesses with the technology and tools needed for growth and development,” said Congressman Al Lawson (FL-05). “This investment will also help boost our local economy and jobs. It is important that Leon County remains on the cutting edge of new technologies.”
This project was made possible by the regional planning efforts led by the Apalachee Regional Planning Council, which EDA funds to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
This project is funded by the Additional Supplemental Appropriations for Disaster Relief Act of 2019 (Pub. L. 116-20) (PDF), which provided EDA with $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) Program funds for disaster relief and recovery for areas affected by Hurricanes Florence, Michael, and Lane, Typhoons Yutu and Mangkhut, wildfires, volcanic eruptions, and other major natural disasters occurring in calendar year 2018, and tornadoes and floods occurring in calendar year 2019, under the Robert T. Stafford Act. Please visit EDA’s Disaster Supplemental webpage for more information.
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.