Economic Development Administration invests $1.9 million in the USC/Columbia Technology Incubator

We are delighted to have the assistant secretary of commerce, Jay Williams, with us today for such an important announcement.

I'd also like to welcome Jay's team: John Atwood (EDA acting director of public affairs), Joe Hurst (assistant to the assistant secretary), Robin Cooley (EDA for South Carolina) and Phil Paradice (EDA regional director for the Atlanta region). And I thank our Office of Economic Engagement team, led by Bill Kirkland.

Inc. Magazine recently named USC's incubator as one of the top three incubators in the country to watch. We're fortunate that our U.S. secretary of commerce, Penny Pritzker, and her team decided they would do much more than "watch" us.

We are most appreciative that the EDA has elected to award significant funding. A $1.9 million investment in USC's Columbia Technology Incubator is also a $1.9 million investment in South Carolina.

The EDA's investment will greatly enhance work in progress by supporting the construction of a 50,000-square-foot technology and incubation facility. This will provide a great boon to public-private partnerships and will lead to more entrepreneurial opportunities and jobs in the Midlands.

It also adds to the realization of our vision of growing a dynamic technology corridor in Innovista. We anticipate the incubator will invite a rich blending of research activities, emerging technologies and of course access to a world-class faculty aided by talented students.

We are excited to receive this essential funding and know that it will allow the state's flagship university to continue its ongoing efforts to positively improve the lives of South Carolinians while also significantly impacting the state's economic health.