The U.S. Small Business Administration says it will be making more than $7 million available to regional development clusters to help create job growth and new small business formation.
“Clusters bring together many businesses and organizations in a region to maximize the economic strengths of that region, enhancing its ability to compete on a national and global scale,” SBA administrator Karen Mills said.
After evaluating the various proposals, the agency will award grants of up to $600,000 to as many as 15 projects nationwide. The SBA’s cluster program will contain two distinct programs: regional innovation clusters and a partnership with the Department of Defense to develop advanced defense technology clusters.
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