WASHINGTON – Senator Chuck Grassley said today that the U.S. Department of Commerce’s Economic Development Administration has awarded a $200,000 investment to the University Center Program at Iowa State University.
According to the Department of Commerce, the university will use the money to fund research and technical assistance to help communities capitalize on economic development opportunities.
“These funds should make it easier for Iowa State to help communities promote innovation and entrepreneurship,” Grassley said.
According to the Department of Commerce, the Economic Development Administration serves as a venture capital resource to meet the economic development needs of distressed communities throughout the U.S. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.