Grant promotes innovation and small business development in OH, MI, IN and MN areas affected by automotive downturn
WASHINGTON - U.S. Commerce Secretary Gary
Locke today announced a $1.5 million U.S. Economic Development
Administration (EDA) grant to JumpStart, Inc., to promote innovation and
small business development in the cities of Akron, Ohio; Detroit,
Mich.; Fort Wayne, Ind.; Gary, Ind.; St. Paul, Minn.; and Duluth, Minn.,
which have been affected by the restructuring of the American
automotive industry. JumpStart will help develop regional
entrepreneurship action plans (REAP) and training and assistance
programs for entrepreneurs and early-stage businesses.
“President Obama is committed to creating jobs and sparking
regional competitiveness in areas impacted by the auto industry’s
downturn,” Locke said. “This EDA grant will
help Midwestern communities develop a plan for businesses to collaborate
and take advantage of local resources, spurring job growth, innovation
and entrepreneurship.”
This
grant will help JumpStart replicate its proven approach, which has seen
success in Cleveland and throughout northeastern Ohio, to significantly
bolster innovation and regional collaboration efforts in the six
cities. JumpStart will examine entrepreneurial eco-systems and create
REAP programs in these communities that have been affected by the
restructuring of the American automotive industry. Michigan, Ohio, and
Indiana, respectively, have the first-, second-, and fourth-highest
number of automotive manufacturers in the United States.
JumpStart will work to increase access to capital in
each region and conduct educational events for entrepreneurs. The events
will provide training and information, short- and long-term critical analysis and
mentorship, and will connect entrepreneurs and investors.
About the U.S. Economic Development Administration (www.eda.gov):
This year, the U.S. Economic Development Administration (EDA)
marks 45 years of public service, with a mission of leading the federal
economic development agenda by promoting competitiveness and preparing
American regions for growth and success in the worldwide economy. EDA is
an agency within the U.S. Department of Commerce that partners with
distressed communities throughout the United States to foster job
creation, collaboration and innovation.
Ray Leach
--------------------------------------------------------
Chief Executive Officer
JumpStart Inc.
737
Bolivar Rd. Suite 3000
Cleveland
OH 44115
o: 216.363.3406
m: 330.310.2535
Now on Twitter: @JumpStartInc
