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Economic Development Administration Announces New Approach to Spur Growth

09/01/2010
U.S. Assistant Secretary of Commerce for Economic Development John Fernandez outlined today the Economic Development Administration's (EDA) business platform for the United States.

"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," Fernandez said.

The EDA is also collaborating with other agencies to support business in all American regions. The EDA, the Departments of Education and Labor, and the Small Business Administration, are working to promote regional innovation clusters.

Additionally, seven government agencies, including the Department of Energy and Housing and Urban Development (HUD) have created a $122 million grant towards the creation of an Energy Innovation Hub. Penn State and a Philadelphia-area group were declared the grant winners last week. Coming up in November, the EDA and the International Trade Administration will embark on a joint trade mission to France's Pollutec conference with delegates from across America.

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