Federal government gives grant for economic development
Tasawar Shah | October 7The University of New Mexico’s organization for Supporting Technology Transfer and Catalyzing Economic Development (STC.UNM) has received a five-year grant from the federal U.S. Economic Development Administration (EDA) under its University Center Economic Development Program to foster economic development in the region. EDA is a bureau within the U.S. Department of Commerce. EDA's University Center Economic Development Program makes the resources of universities available to the economically developing community. Using the grant awarded, STC.UNM will establish a university center to promote economic growth in the region. According to the EDA’s Website, the U.S. Department of Commerce has invested $2.5 million to strengthen innovative and economic growth initiatives. Colleges and universities in 13 states have been awarded funding through economic development competition.