The federal Economic Development Administration presented the Dartmouth Regional Economic Technology Center with a $2.6 million during a Thursday ceremony at Dartmouth-Hitchcock Medical Center.
U.S. Senate Appropriations Committee Chairman Judd Gregg, R-N.H., was on hand to watch EDA head Dr. David Sampson present the check, intended to promote the growth of high-technology businesses in northern and western New Hampshire.
Sen. Gregg, who was instrumental in establishing the relationship between the EDA and the Technology Center, cited the partnership as an example of cooperation between public and private organizations for the promotion of the economy.
"This grant from the EDA will allow the Center to meet some of its primary goals of fostering economic growth and creating high quality jobs while maintaining the rural character of the region," Gregg said.
Dartmouth has devoted to lots in the Centerra Technology Park in Lebanon for the center, which planners estimate will be ready for occupancy by late fall of 2005. Building will begin in spring 2005, once sufficient funds for the project can be raised. The $2.6 million represents approximately 55 percent of the projects total cost, according to Gregg Fairbrothers, Executive Director of the Dartmouth Entrepreneurial Network.
The idea for the project was initially conceived when a Nov. 2001 study recommended a statewide initiative to strengthen infrastructure for technology business development, including healthcare and biotechnology. The study was conducted by the state, Dartmouth, the University of New Hampshire and the Grafton County Economic Development Council.
Fairbrothers also expressed his appreciation for the funding, which he said he hopes will have "long-lasting benefits for the community, the state and the College."
