In an effort to strengthen Gainesville's economy by providing university-level assistance to local businesses, the U.S. Department of Commerce awarded UF a $142,880 grant on Sept. 4.
The Economic Development Administration is an agency within the U.S. Department of Commerce and funded the grant through its University Center program. According to a press release, any university is able to apply for aid to provide local economies with resources to better assess the needs of communities.
The press release stated the EDA supports the economic development needs of "distressed" communities throughout the U.S. by promoting innovation.
However, Bryan Borlik, acting director of public affairs at the EDA, could not comment on what qualified Gainesville as a distressed community.
Borlik said the EDA's budget is $300 million and is set by the president and Congress.
The grant is part of a three-year program, which entitles UF to receive additional funding in the subsequent two years.
"The Congress and the administration see this as a worthwhile program," Borlik said.
Borlik was unsure of the amount of money UF would receive in coming years from this program.
"[The grant] is a tremendous opportunity and often a challenge, a great challenge, to transfer the technology created at the university level and transfer them to businesses to help create new businesses," he said.
