Connect with us

Hi, what are you looking for?

Business

Commerce Department Sends EDA Funds to Build Tampa Bay Innovation Center Incubator

With an additional $4.5 million in local funds, the 45,000 square foot center and is expected to create more than 460 jobs and add an additional $66 million to the local economy. 

Share Story Via Text or E-Mail

The U.S. Commerce Department is sending $7.5 million to help build a business facility in Tampa Bay.

On Monday, U.S. Secretary of Commerce Wilbur Ross announced that the Economic Development Administration (EDA) is sending a $7.5 million grant to the Pinellas County Board of Supervisors of Clearwater, Florida, to help build the Tampa Bay Innovation Center Incubator.

With an additional $4.5 million in local funds, the 45,000 square foot center and is expected to create more than 460 jobs and add an additional $66 million to the local economy.

“The Trump administration is working diligently to support entrepreneurship and innovation across the country, especially by driving business investment to Opportunity Zones through special tax incentives,” said Ross. “The Tampa Bay Innovation Center Incubator will provide businesses and fledgling entrepreneurs with the technical assistance and space they need to succeed.”

The news garnered the applause of elected officials in Tallahassee and representing the Sunshine State on Capitol Hill.

“Florida is on a trend of continued economic momentum and the consistent support from the Trump administration is bolstering that trend,” said Gov. Ron DeSantis. “The Tampa Bay area and our state will significantly benefit from this state-of-the-art business facility, which will help to foster innovation and high-skilled workforce development.”

“I proudly supported Opportunity Zones in the Tax Cuts and Jobs Act, and I welcome the Department of Commerce’s investment to help build the Tampa Bay Innovation Center Incubator,” said U.S. Sen. Marco Rubio, R-Fla. “This investment will foster a long-term, growth-centered environment in Saint Petersburg for small businesses to create new solutions and train a qualified workforce with the skills they need to pursue dignified work.”

“As governor, I worked hard to make Florida the best place in the nation for businesses to succeed, including cutting more than $10 billion in taxes and reducing thousands of burdensome regulations,” said U.S. Sen. Rick Scott. “The $7.5 million EDA grant to help build the Tampa Bay Innovation Center Incubator is great news for the Tampa Bay community and Florida’s local entrepreneurs. Investments like this build on our state’s incredible economic growth and success and give more Florida families the opportunity to succeed.”

See also  Gov. DeSantis On Opposite Sides with Some State GOP 

“There are multiple indicators that our economy is moving in the right direction,” said U.S. Rep.  Gus Bilirakis, R-Fla. “Small business growth is the backbone of our success. This federal investment in Pinellas County will spur private investment in our community and help emerging entrepreneurs create local jobs-a win/win for taxpayers.”

“Pinellas County is fast-becoming a launchpad for new businesses and innovative ideas. But for many entrepreneurs, the high cost of office space is a significant barrier to getting off the ground,” said U.S. Rep. Charlie Crist, D-Fla. “The new Tampa Bay Innovation Center Incubator will provide a critical boost for entrepreneurship in our region. I’m excited to see the creativity and innovation it will foster and grow!”

“The project will be located in the newly created Innovation District on the southern edge of downtown St. Petersburg. This project was made possible by the regional planning efforts led by the Tampa Bay Regional Planning Council. EDA funds the Tampa Bay Regional Planning Council to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs,” the Commerce Department noted.

 

Reach Kevin Derby at kevin.derby@floridadaily.com.

 

Author

  • Kevin Derby

    Originally from Jacksonville, Kevin Derby is a contributing writer for Florida Daily and covers politics across Florida.

    View all posts
Share Story Via Text or E-Mail
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Follow Us on Social Media

Ed Dean: Publisher

 

Ed Dean is a leading radio and news media personality including hosting the #1 statewide radio talk show in Florida. Contact Ed.Dean@FloridaDaily.com

Article Archives

Related Stories

Lead

Whether you are a resident of the state of a visitor, drivers crossing into the state will now see new Florida signs that read,...

Foreign Affairs

Florida Senator Marco Rubio (R), who serves as Vice Chairman of the Senate Select Committee on Intelligence, joined Lindsey Graham (R-SC), Ranking Member of...

Florida Politics

This year, Florida Gov. Ron DeSantis vetoed 14 bills proposed or co-sponsored by state GOP lawmakers. Issues from the state budget to local property...

Healthcare

Florida Senator Rick Scott (R) joined fellow Florida Senator Marco Rubio (R, Senator Jerry Moran (R-Kan.) and 17 of their colleagues in urging Department...

Education

(adsbygoogle = window.adsbygoogle || []).push({}); Florida Governor Ron DeSantis announced the appointment of Dr. Alberto Tano to the Florida International University Board of Trustees....

Economy

Florida Gov. DeSantis vetoed Senate Bill 280, which would have allowed the state to impose stricter regulations on vacation rentals Over the last few...

Attorney General Ashley Moody

Getting your Trinity Audio player ready... Florida Attorney General (AG) Ashley Moody and Florida U.S. Senator Rick Scott met with a group of seniors...

Florida Politics

Getting your Trinity Audio player ready... Florida Gov. Ron DeSantis signed the following bills: HB 799 – Easements Affecting Real Property Owned by the...