Thursday, May 31, 2012 - 12:45pm
May 14, 2012, WASHINGTON - U.S. Commerce Secretary John Bryson today announced a $1.5 million Economic Development Administration (EDA) grant to the University of Mississippi Medical Center in Jackson, Mississippi, to construct critical roadway infrastructure, including utilities, for a new research facility. The project will create 225 jobs and generate more than $30 million in private investment, according to grantee estimates. "This $1.5 million EDA investment in Mississippi is an example of the Obama Administration's commitment to supporting a 21st century infrastructure critical to an economy that is built to last," Secretary Bryson said. "The grant announced today will enable the University of Mississippi Medical Center to build its new Cancer and Biomedical Science Research Center in downtown Jackson, creating hundreds of jobs in the growing healthcare field and supporting a business incubator that will attract businesses, including manufacturers, to the region." When completed, the University of Mississippi Medical Center's Cancer and Biomedical Science Research Center will include labs, office space for health practitioners, and a business incubator that is designed to draw companies in biotechnology, drug development, and medical-device manufacturing fields. The project will support clinicians, researchers, educators, doctors, medical scientists, newly trained healthcare practitioners, and staff. 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.