Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $577,917 CARES Act Recovery Assistance grant to Alamance Community College, Graham, North Carolina, to support the region’s growing biotechnology sector by purchasing equipment needed to train students for careers in life sciences through the college’s new Biotechnology Center of Excellence. This EDA grant, to be matched with $577,917 in local investment, is expected to create 75 jobs and generate $1 million in private investment.
“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This investment will provide Alamance Community College with the equipment it needs to train workers in the healthcare, medical testing, and bio-agricultural industries, creating a stronger, more resilient regional economy.”
“Our community colleges are preparing North Carolinians for the jobs of today and tomorrow,” said Governor Roy Cooper. “This grant will boost Alamance Community College’s Biotechnology Center and the area’s growing life sciences workforce.”
“North Carolina’s focus to strengthen our workforce development pipeline highlights our state’s serious commitment to training the next generation of innovators and leaders,” said Senator Thom Tillis. “This investment is a big win for Alamance County Community College and will allow our students to build necessary skills at the Biotechnology Center of Excellence so that they are well-prepared when entering the workforce. I will continue to work to ensure our state is a leading destination for the biotechnology sector, and I applaud the Commerce Department for their continued investment in our great state.”
This project was made possible by the regional planning efforts led by the Piedmont Triad Regional Council (PTRC) which EDA funds. PTRC brings together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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.