Brown Announces $2 Million for Business Development in Akron | U.S. Senator Sherrod Brown

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WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH)
announced that the United States Economic Development Administration (EDA) has awarded a $2 million grant to the city of Akron to expand and renovate its Bounce
Innovation Hub, a business incubator facility. This investment will support more than 60 start-up
businesses and entrepreneurs at the incubator through the addition of new
technologies, such as 3D printing, as well as conference rooms and workspaces.

“When
start-ups are looking to get their businesses off the ground, local investment
and capital can be key to their growth and success,” said Brown. “This funding
will boost Bounce Innovation Hub’s ability to support home-grown businesses and
help drive economic growth in Northeast Ohio.”

The
EDA is the only federal government agency focused exclusively on economic
development. The program is designed to provide financial assistance to
communities, and promote economic development.

EDA
grants are awarded through a competitive process based upon the application’s
merit, the applicant’s eligibility, and the availability of funds. More
information on EDA’s grant process and investment process can be found at www.eda.gov.

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