Monday, August 10, 2009

CRC Gets Growth Funds from Feds

The Virginia Tech Corporate Research Center, one of the region’s primary generator of top-level technology jobs is on the edge of nearly doubling in size and creating 2,000 more jobs.

The Economic Development Administration, a federal program, has given the Virginia Tech Foundation and the Town of Blacksburg a $1.9 million grant with growth at the CRC in mind.

Congressman Rick Boucher said, "I am pleased that the Department of Commerce has recognized the success of Virginia Tech's Corporate Research Center and has appropriately awarded a significant grant in order for the CRC to double in size."

U.S. Secretary of Commerce Gary Locke, who announced the grant, said, "The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness. The Virginia Tech Corporate Research Center expansion is vital to helping the Blacksburg region continue to attract new industry, generate private sector jobs in high-tech marketplaces, and enhance competitiveness."

"Virginia Tech's Corporate Research Center already serves as a powerful economic engine for the region, and this EDA grant will help broaden its reach and its economic impact," U.S. Senator Mark R. Warner said. "I am pleased to see this strong partnership continue between federal, state and local governments and the University as we work together to promote innovation and create jobs and opportunity."

The CRC has 27 buildings and 140 tenants on 120 acres. The CRC was designed for 28 buildings and it plans expansion along U.S. 460 at the edge of the Tech campus on a tract of 95 acres. The CRC is nearing its 25th anniversary.

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