September 4, 2007: FEDS TO INVEST IN JOBS AND ALTERNATIVE ENERGY BUSINESS INCUBATOR AT UT

$2 Million for New Facility at Dorr / Westwood in Science and Technology Corridor

MarcyKaptur announced that the U.S. Department of Commerce's EconomicDevelopment Administration (EDA) will award the University of Toledoand its Science and Technology Corridor, $2 million for theconstruction of UT's second high-tech business and jobs incubator.

EDA will award $2 million toward the construction of a $4 million,40,000 square foot two-story building, adjacent to the Clean andAlternative Energy Incubation Center at Westwood and Dorr Streets inToledo, according to Kaptur. The new facility will mirror the existingincubator facility, which is near capacity as a result of theUniversity's existing efforts in business and job development inalternative energy technologies. State and local funds will match thefederal award.

"New technology is the foundation stone for new jobs. Universityresearch and technical parks have become one of the most importantingredients in job creation in our nation, as evidenced by the ResearchTriangle in North Carolina and the U.S. 23 corridor in the Ann Arborarea," said Kaptur. The Economic Development Administration'sinvestment in this project will allow for the expansion of the verysuccessful Technology Corridor giving the University of Toledo theability to attract new high-tech businesses to the Toledo MetropolitanArea.

This is the second time in three weeks the U.S. Department ofCommerce has recognized Toledo's growing influence in technology andalternative energy development. In August, the University announced a$1.95 million dollar EDA grant to place infrastructure in theUniversity's Health Science Campus business park at the South end ofthe technology corridor.

"The University's quickly expanding technology complex is at theforefront of our efforts to build on our successes in alternativeenergy development and create the jobs of the future for our region.This action by the U.S. Department of Commerce underscores theUniversity's leadership in the advancement of alternative sustainableenergy and the partnership of the federal government at work in ourcommunity to help make it happen," said Kaptur. "Not only does itdemonstrate a commitment to an energy independent, eco-friendly future,but it also brings good jobs and attracts quality high-tech businessesand the potential for renewed growth for Northwest Ohio," she continued.

Business incubators often act as economic engines -- not only givingstartups companies the support they need to grow, but also providing aboost to other businesses in their communities. University and EDAprojections put the potential job creation at 100 and 200 in the firstthree years of the incubator's operation, based on the existingincubators performance and up to 350 in the first six years.

"This is where the rubber meets the road in fostering spin-off jobcreation and the production of products for alternative energyapplications developed right here in Northern Ohio," said Kaptur.

"As we literally outgrow our early efforts in the first incubator,the EDA's confidence in making this award emboldens our continuedmomentum toward inventing and deploying the technology and jobs of ourfuture in the region," the Congresswoman concluded.

The Science and Technology Corridor is located between the maincampus, the health science campus (formerly Medical University of Ohio)and the Scott Park campus. The mission of the corridor, which wasformed in 2003, is to make the region more competitive economically byencouraging collaboration between the university with its knowledgeresources and technology-based organizations and businesses.