Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the Atlantic County Improvement Authority, Atlantic City, New Jersey, to grow the region’s critical aviation technology cluster by constructing a new office building that will provide growing aviation companies with the office space and room for research and development they need to thrive.
“President Biden is committed to helping communities grow their critical business clusters to ensure that they not only recover from the coronavirus pandemic but build back stronger,” said Secretary of Commerce Gina Raimondo. “This EDA investment in the Atlantic County Improvement Authority will facilitate the expansion of the region’s aviation sector to create new economic opportunity and jobs for local citizens.”
“The Economic Development Administration is pleased to support the Atlantic County Improvement Authority as they seek to diversify the region’s economy,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This project will capitalize on the momentum established by the National Aeronautics Research and Technology Park and strengthen the aviation technology cluster in southern New Jersey to allow the regional economy to expand beyond the traditional clusters focused on tourism and gaming.”
“This grant will help create jobs, boost the South Jersey economy and expand the region’s aviation sector that is anchored by National Aviation Research and Technology Park and the FFA’s William J. Hughes Technical Center,” said Senator Bob Menendez. “At a time when the region’s tourism and gaming industry is sluggish due to the pandemic, this investment will help revitalize the economy and expand job opportunities for families. I look forward to working with the Biden Administration to help build our economy back stronger than ever.”
“This expansion will help our community recover from COVID-19 and diversify South Jersey’s economy into high-value sectors,” said Congressman Jeff Van Drew (NJ-02). “As a member of the House Aviation Subcommittee, I am committed to the mission of growing the aviation research economy in South Jersey. I used every resource at my disposal to collaborate and advocate for this project, and I am proud to see that these critical funds were delivered for South Jersey.”
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 makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.