WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) today announced that the New Orleans Bioinnovation Center is receiving $1.5 million from the Economic Development Administration (EDA) to create jobs and produce research in the biotechnology industry.
“Biotechnology can provide health care workers new and better methods to treat disease. This grant creates Louisiana jobs in a cutting-edge field. I appreciate the EDA for investing in Louisiana,” said Dr. Cassidy.
This EDA investment funds the Louisiana Biotechnology Commercialization Accelerator: a program to help regional innovators build the next generation of industry-leading biotechnology companies to accommodate an increase in research and development (R&D) activity and adapt to the new challenges facing the South Louisiana region.
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.