Brown Announces $2 Million for Business Development in Akron

WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH) announced that the United States Economic Development Administration (EDA) has awarded a $2 million grant to the city of Akron to expand and renovate its Bounce Innovation Hub, a business incubator facility. This investment will support more than 60 start-up businesses and entrepreneurs at the incubator through the addition of new technologies, such as 3D printing, as well as conference rooms and workspaces.

 

“When start-ups are looking to get their businesses off the ground, local investment and capital can be key to their growth and success,” said Brown. “This funding will boost Bounce Innovation Hub’s ability to support home-grown businesses and help drive economic growth in Northeast Ohio.”

 

The EDA is the only federal government agency focused exclusively on economic development. The program is designed to provide financial assistance to communities, and promote economic development.

 

EDA grants are awarded through a competitive process based upon the application’s merit, the applicant’s eligibility, and the availability of funds. More information on EDA’s grant process and investment process can be found at www.eda.gov.