Staff Writer

Salem, MA – On Thursday, the Office of Congressman Seth Moulton (D-MA) announced that the U.S. Department of Commerce¹s Economic Development Administration (EDA) has awarded a $1.4 million dollar grant to Endicott College and North Shore InnoVentures in Beverly. This investment will create nearly 350 new jobs in the district and significantly expand the region¹s biotech industry, while spurring private investment in the life sciences sector.

“This substantial federal investment in Beverly will fund critical infrastructure improvements and create nearly 400 jobs right here in the district,” said Congressman Seth Moulton. “I’m grateful to the Department of Commerce for making an investment that will enhance economic development, create new jobs, and solidify our state¹s role as a national leader in the life-sciences industry.”

“We are very appreciative of the EDA investment that will help us move forward with the biotech incubator expansion of the Ginger Judge Science Center,” said Dr. Richard E. Wylie, President of Endicott College.  “The new facilities will allow additional startup companies to establish themselves on the North Shore, and expand academic and internship opportunities for students in developing a highly skilled biotechnology workforce within the region.  Since arriving at Endicott College, Dr. Gene Wong has helped to develop the infrastructure and academic, corporate, and government partnerships to make the North Shore an attractive location to start a biotechnology company.  The partnership that we have with North Shore InnoVentures in this venture will generate significant positive returns to the regional economy.”

“The regional impact of this project will be the hundreds of jobs created by startups in the North Shore InnoVentures program that will be resident in this new biotech incubator facility,” said Martha C. Farmer, PhD, President and CEO of North Shore InnoVentures. “We accelerate the growth of biotech startups that demonstrate the potential to positively impact lives through their technology. Working with Endicott College to expand the NSIV incubation program at the new facilities gives us an exciting opportunity to grow together.  We are grateful to EDA and Endicott College for this testament to our effectiveness and their faith in us. We have already assisted 38 startups who have collectively created 270 jobs in our region and this will more than double our capacity.”

EDA’s investment will support the construction of a life science and business incubator space at Endicott College¹s campus in Beverly. The incubator space will expand opportunities in the life sciences for startups, and the campus community, leading to job creation and private investment in the life-sciences in northeastern Massachusetts. This federal investment is expected to create 335 jobs.

“The Economic Development Administration plays an important role in supporting the Commerce Department’s ‘Open for Business’ agenda which focuses on advancing innovation and strengthening our nation’s global competitiveness,” said U.S. Secretary of Commerce, Penny Pritzker. “The EDA investment announced today supports business growth in Massachusetts¹s distinguished life-sciences sector.”

Article here.