EDA reauthorization includes tech and manufacturing programs

In an earlier posting, I noted that the Economic Development Administration (EDA) was expanding its activities toward technology commercialization through its i6 Challenge. Yesterday, the House Transportation and Infrastructure Committee took another step by passing a new EDA reauthorization bill that included a number of new initiatives (H.R. 5897- Economic Revitalization and Innovation Act of 2010).
Among other things, the bill expands support for business incubators and science and research parks. This also includes a provision that clarifies EDA’s ability to provide business incubator operating support. Use of EDA funds for operating support is something I have advocated — see earlier postings.
On the technology side, the bill creates funding for high-speed rail economic development planning and for alternative energy technologies programs. The bill also creates an Equity Financing Program in the form of a Revolving Loan Fund (RLF) to make equity investments in incubator companies, companies commercializing technology at science and research parks, and technology or manufacturing companies locating or relocating to the United States.
This is an important step forward for EDA – one that will move them into I-Cubed Economy.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s