June 25, 2024

EDA: $500,000 Invested to Support Entrepreneurship on Maryland’s Eastern Shore

Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to Eastern Shore Entrepreneurship Center in Easton, Maryland, to purchase, position, and equip two modular laboratories.

This grant will support the F3 Tech Agbiotech Bioreactors and Lab Equipment project, which will include two large-capacity bioreactors and related lab equipment. This EDA investment will be matched with $500,000 in local funds.

“The Economic Development Administration plays an important role in supporting community-led economic development strategies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “We are pleased to partner with Eastern Shore Entrepreneurship Center to support research and development in agriculture, aquaculture, and environment cluster industries.”

“When we invest in entrepreneurship and innovation, we invest in our shared success. Today, we take an important step forward in our work to build out industries of the future, create jobs, and supercharge Maryland’s economy,” said Governor Wes Moore. “I thank the Biden-Harris Administration for their ironclad commitment to uplifting Maryland businesses and entrepreneurs. Together, we will make our state more competitive from Mountain Maryland to the Eastern Shore –  and everywhere in between.”

“The Eastern Shore Entrepreneurship Center is leading cutting-edge research and technology that is advancing our major industries and protecting our natural resources. This federal investment will provide ESEC’s entrepreneurs, small businesses and startups with more tools to further their innovation and success,” said Senator Ben Cardin. “The strength of Maryland’s economy lies in innovation, and we’re continuing to invest in projects that are leading us into the future.”

“Investing in the Eastern Shore Entrepreneurship Center will provide critical support to our local to small businesses and help spur regional economic growth. These federal dollars will bolster local entrepreneurs, innovators, startups, and existing businesses, providing key access to new laboratories so that they can leverage cutting-edge technology to develop new breakthroughs,” said Senator Chris Van Hollen.

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.

This post was originally published here.