{"406981":{"#nid":"406981","#data":{"type":"news","title":"Georgia Tech receives U.S. Department of Commerce research grant","body":[{"value":"\u003Cp\u003EThe U.S. Department of Commerce\u2019s Economic Development Administration (EDA) has awarded the Georgia Institute of Technology a Science and Research Park Development Grant \u2014 one of 12 such awards to universities and government entities the agency announced on May 22.\u003C\/p\u003E\u003Cp\u003EThe $460,707 grant will be used to study the feasibility of expanding Technology Enterprise Park (TEP) on Atlanta\u2019s west side into a health and bioscience hub.\u003C\/p\u003E\u003Cp\u003E\u201cThis grant provides us an exceptional opportunity for Georgia Tech and the city of Atlanta to help create high-paying jobs and economic opportunity for the city\u2019s west side,\u201d said Chris Downing, associate vice president of the Enterprise Innovation Institute, Tech\u2019s chief statewide economic development arm. Downing led the effort in crafting the grant proposal. The University Financing Foundation, Invest Atlanta, and the Atlanta Housing Authority also served as partners in the project proposal.\u003C\/p\u003E\u003Cp\u003EThe target area encompasses approximately 60 acres and will assess the viability of expanding TEP\u2019s footprint. Georgia Tech founded the technology park, which is located at North Avenue and Northyards Boulevard, in 2004.\u003C\/p\u003E\u003Cp\u003EAs planned, the vision for the expanded park would be the interconnection of parcels of land owned by the project\u2019s collaborators and supporters. Those include Tech, the Atlanta Housing Authority, and the city of Atlanta, among others. The goal is to create a health and bioscience hub in an economically distressed part of the city.\u003C\/p\u003E\u003Cp\u003EAs a hub it would be a natural location for startups in the health and bioscience sectors spinning out from area schools, including Tech, Georgia State University, Emory University, Morehouse School of Medicine, and Clark Atlanta University.\u003C\/p\u003E\u003Cp\u003EExisting health and bioscience companies such as CardioMems, Kemira, and CryoLife would be able to expand their current operations without leaving the area, and it would be a magnet for leading-edge research and innovation enterprises such as the Global Center for Medical Innovation and the Georgia Tech Research Institute.\u003C\/p\u003E\u003Cp\u003EThe project will study the best practices Georgia Tech has implemented in the development of the neighboring Technology Square in Midtown, which serves as a model for innovation-led economic development success. This area of the west side could enjoy a similar outcome, Downing said. \u201cIt has the potential to create thousands of jobs and deliver hundreds of millions of dollars in economic output.\u201d\u003C\/p\u003E\u003Cp\u003EThe Science and Research Park Development Grants are part of the Regional Innovation Strategies program, which is being run by the EDA Office of Innovation and Entrepreneurship. It is a new initiative designed to advance innovation and capacity-building activities in regions across the country through three different types of grants: i6 Challenge grants, Cluster Grants for Seed Capital Funds, and Science and Research Park Development Grants.\u003C\/p\u003E\u003Cp\u003EIn March, Commerce Secretary Penny Pritzker announced the recipients of the i6 Challenge Grants, which included $500,000 to Georgia Tech to support a sweeping innovation and entrepreneurship initiative in Athens, Augusta, and downtown Atlanta.\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":"","field_summary_sentence":[{"value":"This award will fund a research study to see the feasibility of expanding Technology Enterprise Park on Atlanta\u0027s westside into a health and bioscience hub."}],"uid":"28137","created_gmt":"2015-05-22 17:31:08","changed_gmt":"2016-10-08 03:18:21","author":"P\u00e9ralte Paul","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2015-05-22T00:00:00-04:00","iso_date":"2015-05-22T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"407221":{"id":"407221","type":"image","title":"Technology Enterprise Park","body":null,"created":"1449254168","gmt_created":"2015-12-04 18:36:08","changed":"1475895132","gmt_changed":"2016-10-08 02:52:12","alt":"Technology Enterprise Park","file":{"fid":"202139","name":"contact_side.jpg","image_path":"\/sites\/default\/files\/images\/contact_side_0.jpg","image_full_path":"http:\/\/www.tlwarc.hg.gatech.edu\/\/sites\/default\/files\/images\/contact_side_0.jpg","mime":"image\/jpeg","size":11979,"path_740":"http:\/\/www.tlwarc.hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/contact_side_0.jpg?itok=Hd3cCSGS"}}},"media_ids":["407221"],"related_links":[{"url":"http:\/\/www.news.gatech.edu\/2015\/03\/31\/georgia-tech-receives-us-department-commerce-i6-challenge-grant","title":"Georgia Tech receives U.S. Department of Commerce i6 Challenge Grant"}],"groups":[{"id":"1214","name":"News Room"}],"categories":[{"id":"139","name":"Business"},{"id":"131","name":"Economic Development and Policy"}],"keywords":[{"id":"115351","name":"Commerce Department"},{"id":"815","name":"economic development"},{"id":"126811","name":"Economic Development Administration"}],"core_research_areas":[],"news_room_topics":[{"id":"106361","name":"Business and Economic Development"}],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp class=\u0022titles\u0022\u003EMedia Relations Representative\u003C\/p\u003E\u003Cp class=\u0022email\u0022\u003EEmail:\u0026nbsp;\u003Ca href=\u0022mailto:laura.diamond@comm.gatech.edu\u0022\u003Elaura.diamond@comm.gatech.edu\u003C\/a\u003E\u003C\/p\u003E\u003Cp class=\u0022phone\u0022\u003EPhone:\u0026nbsp;404-894-6016\u003C\/p\u003E\u003Cp\u003E\u003Ca href=\u0022mailto:laura.diamond@gatech.edu\u0022\u003Elaura.diamond@gatech.edu\u003C\/a\u003E\u003C\/p\u003E","format":"limited_html"}],"email":["peralte.paul@comm.gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}