[WASHINGTON, D.C.] – U.S. Senator Dick Durbin (D-IL) and U.S. Representative Cheri Bustos (D-IL) today announced that the U.S. Department of Commerce’s (DOC) Economic Development Administration (EDA) has awarded $162,500 in Economic Adjustment Assistance funding to the Bi-State Regional Commission and Quad Cities Chamber of Commerce to help create a regional advanced manufacturing innovation hub.
“Today’s funding will help the Quad Cities develop and implement a strategic plan for continued economic growth – one that encourages innovation and entrepreneurship in the manufacturing sector in order to create and bring back jobs in the community,” said Durbin.
“I’m pleased to announce this important investment in the economy of our region,” said Bustos. “Today’s investment will continue our goal of fostering collaboration to create jobs, bolster our manufacturing sector, grow our economy and contribute to a thriving middle class.”
“We’ve done the research to support that the Quad Cities region can sustain an advanced manufacturing innovation hub,” states Tara Barney, CEO of the Quad Cities Chamber. “Now we have the funding to start the real work of creating a plan, identify services and programs we can offer, and position our region as a leader in manufacturing.”
The Bi-State Regional Commission and the Quad Cities Chamber of Commerce will use this funding to develop a plan for the creation of an advanced manufacturing innovation hub to help diversify the region’s economy.
This project is funded through the Investing in Manufacturing Communities Partnership (IMCP), which is designed to accelerate the resurgence of manufacturing and help cultivate an environment for businesses to create well-paying manufacturing jobs in regions across the country. Each investment through the program supports the development of strategic plans to build public-private partnerships that result in targeted investments in workforce training, infrastructure, and research.
EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.