January 15, 2008

WORCESTER, Mass. -- The Economic Development Administration (EDA), along with U.S. Rep. Jim McGovern (D-MA), today announced that the team of Worcester Polytechnic Institute (WPI), New Garden Park Inc., the city of Worcester, Mass., and the Worcester Business Development Corporation (WBDC), as the lead recipient, has qualified for an EDA performance award in the amount of $250,000. The award can be used to fund EDA-approved economic development activities.

EDA’s award recognizes WBDC’s collaborative leadership in the management of EDA’s investment in Gateway Park, supporting initial site development of a state-of-the-art bioengineering incubator facility. Gateway Park is Worcester’s brownfields revitalization project on 11 acres, which at build-out will provide 2,500 new higher-skill, higher-wage jobs and regional leadership in the life sciences. Another piece of EDA’s investment funded construction of parking facilities necessary to support future expansion of Gateway Park. As the project management team leader, WBDC successfully fast-tracked the project’s design, permitting and construction, starting the project 6 months early and completing it 15 months ahead of schedule.

“I congratulate the Worcester Business Development Corporation on qualifying for a $250,000 EDA Performance Award for its collaborative leadership in the management of EDA’s investment in Gateway Park,” said Assistant Secretary of Commerce for Economic Development, Sandy K. Baruah.

“Gateway Park is an extraordinary project,” Rep. McGovern said. “The success of Gateway Park demonstrates the importance of collaboration and partnerships. I congratulate the recipients of this award, and I thank the EDA for their continuing support and assistance.”

Performance awards are given to recipients of EDA investments in recognition of their outstanding performance in generating private investment, creating jobs, timely project completion, organizational leadership, innovation, regional collaboration and economic strategy to compete in the global marketplace. This is the second year EDA has named performance award recipients.