Press Release:
U.S. Secretary of Commerce Gary Locke Announces $2 Million Investment to Create Jobs, Strengthen Economy in Pensacola, Florida
EDA Grant Expected to Create 670 Jobs and Generate $27 Million in Private Investment
WASHINGTON – U.S. Commerce Secretary Gary Locke today announced a $2 million Economic Development Administration (EDA) grant to the Pensacola-Escambia (Fla.) Promotion and Development Commission, the Emerald Coast Utilities Authority and Escambia County, Fla., to attract new tech-based businesses to the region by making necessary infrastructure improvements to the Pensacola Technology Campus. The project is expected to create 670 jobs and generate $27 million in private investment, according to grantee estimates.
“The Obama Administration is committed to creating jobs, encouraging innovation and improving our Nation’s competitiveness,†said Locke. “This investment in the Pensacola region will attract more technology-based companies to help diversify the economy and create higher-skill, higher-wage jobs.â€
The Department of Commerce is a voice for Main Street businesses. It focuses on creating jobs by fostering innovation and opening markets to U.S. products. Locke is a key member of President Barack Obama’s economic team.
EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.