U.S. Department of Commerce Invests $5 Million to Support Biomedical, Biotechnology and Advanced Manufacturing Sectors in Athens County, Ohio
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $5 million grant to Athens County Port Authority, Athens, Ohio, to build a 60,000 square-foot facility to house biomedical, biotechnology, and advanced manufacturing companies.
This grant will support the expansion of local companies currently located at the Ohio University Innovation Center. The EDA investment will be matched with $1.3 million in state funds and is expected to create 150 jobs and generate $5 million in private investment, according to grantee estimates.
“President Biden is committed to supporting the critical biomedical, biotechnology and advanced manufacturing sectors,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment in southeast Ohio’s Appalachian Region will support industries that are critical to U.S. global competitiveness.”
“The Economic Development Administration is pleased to support the Athens County Port Authority as they seek to diversify the region’s economy,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project will provide modern, ready-to-occupy space for manufacturing and distribution operations that will help locally-grown businesses create more jobs.”
“Ohioans know that for too long, we’ve let innovation move abroad. Even technology that we invented increasingly gets commercialized by our competitors,” said Senator Sherrod Brown. “We bury the term ‘rust belt’ by keeping innovation, and the jobs and supply chains that come with it, here in America. This investment will do that while creating jobs in advanced manufacturing and helping drive economic growth in Southeast Ohio.”
“I am proud to see this grant go to Ohio’s Appalachian Region where our workers and companies are ready to put these funds to good use,” said Congressman Mike Carey (OH-15). “This 60,000 square-foot facility will not only help the region attract new business, but also allow our local businesses to further develop and create jobs.”
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.