U.S. Department of Commerce Invests $500,000 in American Rescue Plan Funds to Support Biopharmaceutical Manufacturing in Acadiana Region of Louisiana
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to Acadiana Planning Commission, Inc., Lafayette, Louisiana, to create a strategic plan to develop a biopharmaceutical manufacturing cluster. This grant is funded by the American Rescue Plan.
This grant will create a strategic plan to leverage existing and planned facilities and resources to increase bio-pharma productivity in the Acadiana region. This EDA investment will be matched with $125,000 in local investment.
“The Economic Development Administration is focused on supporting locally-driven strategies to boost coronavirus recovery and response efforts,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This strategic plan will guide the Acadiana region in using cluster-based economic development and leveraging resources to create a one-stop shop for bio-pharmaceutical manufacturing, creating a stronger, more resilient regional economy.”
“Today’s announcement by the EDA is a sign of the continued growth and vibrancy of Louisiana’s life sciences sector,” said Governor John Bel Edwards. “Our state is committed to expanding economic opportunity by developing solutions for the major pharmaceutical, biotech and health care challenges of our day. But we can’t do it alone. We’re grateful for the support of our federal partners at the Department of Commerce and the EDA, whose investment in an emerging biopharma business cluster in the Acadiana Region can help drive future life sciences innovation and job creation across the state.”
This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.