WASHINGTON – Senator Chuck Grassley said today that the U.S. Department of Commerce's Economic Development Administration has awarded a $135,099 grant to Iowa State University.
"These funds should help Iowa State University continue to provide technical assistance and research tools to help communities capitalize on economic opportunities," Grassley said. "This kind of public-private partnership can do a good deal of economic good for Iowa."
According to the U.S. Department of Commerce, Iowa State University will use the money to help fund the third year of a three-year program that provides technical assistance and research and development tools to increase productivity, spur innovation, and promote entrepreneurship to help increase long-term regional competitiveness and economic diversification.
The Economic Development Administration serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States through the promotion of innovation and competitiveness and preparing regions for growth and success in the global economy.