EDA Helps Launch Jobs and Innovation Accelerator Challenge to Promote Regional Growth, Competitiveness
The Commerce Department’s Economic Development Administration (EDA), along with 15 other federal agencies within the Obama Administration, today announced a $33 million Jobs and Innovation Accelerator Challenge to drive innovation-fueled job creation and global competitiveness through public-private partnerships in at least 20 regions around the country. The Challenge will award funds to regions with high-growth industries that support a wide range of economic and workforce development activities. The Department of Labor’s Employment and Training Administration will invest up to $20 million for technical skills training; EDA will invest up to $10 million in Economic Adjustment Assistance funds; and the Small Business Administration will invest up to $3 million in technical assistance. The Obama administration is committed to smarter use of existing federal resources to foster regional innovation in support of sustainable economic prosperity. Strong indus...