2012 University Center Economic Development Program Competition

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The Economic Development Administration, otherwise known as EDA, is a federal government agency operating within the United States Department of Commerce that is largely responsible for providing grants to economically distressed communities in an effort to help generate new job opportunities, assist in retaining existing jobs and stimulating industrial and commercial growth.

The grants of initiatives of the EDA are all geared towards the realization of its primary agency mission which is to "lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy."

In keeping with this mission, the Economic Development Administration has recently established the 2012 University Center Economic Development Program Competition wherein they intend to solicit grant applications from higher education institutions stating their intent to establish and operate special University Centers that are focused on leveraging university assets in order to create regional economic ecosystems that will support high-growth entrepreneurship.

Higher education institutions or a consortia of institutions can take part in this program as long as they are willing to establish and operate a University Center, and in the process, form a collaboration with several other EDA partners in order to provide, develop, implement, and support regional strategies and approaches that would certainly pave the way to the creation of more jobs, the development of high-skilled regional talent pools, and the expansion of regional businesses.

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