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Date: July 14, 2003
Contact: Mark Williamson (willima@ci.akron.oh.us)

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Contact: Marcie Ridgway (Sen. Voinovich) (202) 224-6296
Matthew Crow (EDA) (202) 482-2309
Ohio Gets $3.075 Million to Boost Business Development and Job Growth
Commerce Assistant Secretary David A. Sampson and U.S. Senator George V. Voinovich (R-Ohio) today announced $3.075 million in Economic
Development Administration (EDA) investments to Akron and Lordstown.

The investments include:

  • $1.775 million to help expand the Akron Industrial Incubator in Akron. The incubator nurtures small technology and manufacturing businesses during the start-up stage. The incubator has generated more than 680 jobs over the last 10 years.
Click to enlarge.
Mayor Don Plusquellic receives a check for $1.7 million from Ohio Senator George Voinovich (right) top help enhance and expand Akron's Industrial Incubator. On the far right is Dr. David Sampson, U.S. Commerce Department Assistant Secretary. On far left is Akron Industrial Incubator Director Michael Lehere. (click photo to enlarge)
  • $1.3 million to help build water system improvements needed to serve a major General Motors automotive fabrication and assembly plant in Lordstown.

"The Department of Commerce is pleased to partner with the people of Ohio. This investment is a great example of Senator Voinovich’s commitment to help the Bush Administration empower local communities with the necessary tools to grow their economy, attract investments and create jobs in Ohio," said Sampson.

"Investments like these are key to jumpstarting our economy.  They support existing businesses and jobs and help nurture new economic growth.  I’m glad that the Department of Commerce has realized the value of these investments to the community and Ohio and I look forward to working with the Administration to help identify other key Ohio projects," said Voinovich.

EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA partners with states, units of local government and community nonprofit organizations in economically distressed areas, regions and communities in order to alleviate conditions of poverty and substantial and persistent unemployment and underemployment.

Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.doc.gov/eda.

 

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