Press Release
U.S. Economic Development Administration Invests $520,000 to Grow Healthcare Regional Innovation Cluster in Central Maryland
U.S. Senator Barbara Mikulski Applauds Critical Economic Development Investment
Contact: Public Affairs Department, (202) 482-4085
Tuesday, September 10, 2013
WASHINGTON — The U.S. Department of Commerce’s Economic Development Administration (EDA) today announced a $520,000 grant to the Economic Alliance of Greater Baltimore, Inc., and BioHealth Innovation, Inc., of Baltimore, Maryland, to establish the Healthcare Regional Innovation Cluster (H-RIC) initiative. This new program will advance central Maryland’s ability to commercialize promising technologies.
“The Obama administration has invested over $200 million in regional innovation clusters, which are playing a key role in helping create jobs and boosting our economic competitiveness,” said U.S. Deputy Assistant Secretary of Commerce for Economic Development Matt Erskine. “The EDA grant announced today will provide resources and programmatic support to a new healthcare innovation cluster that is aiming to accelerate the commercialization of new technologies developed from emerging technology sources throughout Montgomery and Baltimore Counties.”
“Life science jobs are the life blood of Maryland’s economy,” said Senator Mikulski, Chairwoman of the Senate Appropriations Committee and the Commerce, Justice, Science Appropriations Subcommittee that funds DOC. “These funds in the federal checkbook will help bring together the strengths of Maryland’s cutting-edge research institutions with our unique federal assets to help develop new safe and effective treatments right here in Baltimore and Montgomery County. I have heard from Maryland pharmaceutical companies, hospitals, doctors, nurses and patients about the need for safe and effective treatments that are both readily available and affordable so that our nation’s health care providers have the tools they need to keep families healthy. I’m proud to support research and innovation jobs in Maryland’s biotech industry keeping our state competitive in the global economy.”
The Economic Alliance of Greater Baltimore, Inc., operates as a regional economic development marketing organization. BioHealth Innovation, Inc., is the first regionally focused innovation intermediary created to connect the university and hospital bio health research strengths of Baltimore with the bioscience industry and federal laboratory strengths of Montgomery County. The H-RIC initiative will engage regional stakeholders from the county governments of Montgomery and Baltimore counties including Baltimore City.
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.