Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the city of Worcester, Massachusetts, for infrastructure improvements needed to serve the Reactory Biotechnology Park and grow the region’s critical biotechnology, life sciences, and research and development industries and foster economic growth. This EDA project, to be matched with $1.3 million in local funds, is expected to create 275 jobs and generate $110 million in private investment.
“President Biden is committed to ensuring that our communities are provided with the resources they need to diversify and grow their economies,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment in the city of Worcester will facilitate the expansion of the region’s biotechnology, life sciences, and research and development industries and create new economic opportunity and jobs for local citizens.”
“The Economic Development Administration plays an important role in ensuring that our communities are provided with the resources they need to grow their critical industry sectors,” said Linda Cruz-Carnall, Director of EDA’s Philadelphia Regional Office. “This project will support the economic recovery and resiliency of the Southern Worcester County region through the construction of an access road and associated utilities needed to support the vital work being done at the Reactory Biotechnology Park.”
“The Reactory is a unique asset for companies to leverage space, talent, and partnerships that can be found in the thriving life sciences cluster of Central Massachusetts,” said Governor Charlie Baker. “Our Administration is proud of our work with the Life Sciences Center to spread the benefits of the Commonwealth’s innovation economy, especially in the life sciences and biotechnology industries, to every corner of Massachusetts.”
“Massachusetts has long been a leader in science and technology, and this critical infrastructure investment from the Economic Development Administration will make a big difference for the city of Worcester and the Central Massachusetts region by opening up new opportunities,” said Senator Elizabeth Warren. “Improvements made to Reactory Biotechnology Park will help grow biotechnology, life sciences, and research and development industries while creating hundreds of local jobs.”
“Massachusetts’ leading bio-economy contributes to our country’s overall innovation, economic development and technological progress,” said Senator Ed Markey. “This Economic Development Administration grant will provide the funding needed for the city of Worcester’s leading bioeconomic research and help to contribute to Massachusetts’ economic and scientific growth.”
“This grant is a huge boost to our region’s economic growth, and it lays the groundwork for hundreds of new biotechnology and life sciences jobs here in Worcester county,” said Congressman Jim McGovern (MA-02). “Through robust investment in research and development, the Biden administration is building back better and mobilizing our country to meet the great challenges of our time. I’m grateful to Secretary Raimondo and the Economic Development Administration for their work to inspire innovation and generate economic opportunity throughout Worcester country, and I look forward to continuing our close partnership.”
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.