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Champaign County EDC: $51 million federal award will seed iFabTech hub to attract bioprocessing firms
Summary
The Champaign County Economic Development Corporation told the Urbana City Council it received $51 million from the U.S. Economic Development Administration to support the iFabTech Hub and related infrastructure projects; the award covers four projects including hub management and three infrastructure investments.
The Champaign County Economic Development Corporation told the Urbana City Council on Nov. 25 that a federal Economic Development Administration award of $51,000,000 will fund early-stage infrastructure and management for the region’s iFabTech Hub, a multi-county initiative to support bioprocessing and precision fermentation companies.
Carly McCrory McKay, director of the Champaign County EDC, said the funding came through an EDA competition that selected 12 hubs nationally; the iFabTech Hub was one of four projects awarded the highest funding level. "We were absolutely thrilled to receive funding from the federal government, the U.S. Economic Development Administration," McCrory McKay said, describing the award as the largest the region received in the competition.
The EDC presentation summarized how the $51…
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