August 25th, 2016
Funding will go towards expanding the region’s biotech industry with a new business incubator space
Salem, MA – Today, 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 expand our region’s biotech innovation sector 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.”
Read the full press release from Congressman Moulton’s office.
See a related story in the Salem News, also released on 8/25/16, to learn more about the details of project and its importance to the region.