U.S. Department Of Commerce Investing $3 Million In The Project

U.S. Secretary of Commerce Wilbur Ross has announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the County of Cape May to help build a 20,000 square foot multi-tenant building that will fulfill the needs of companies in the Unmanned Aerial Systems (UAS) industry. The facility will be located within the Cape May County Airport. According to grantee estimates, the project is expected to create 130 jobs and spur $1.9 million in private investment.

“President Trump and the entire Trump Administration are working diligently to empower innovators who help fuel job creation in communities across the nation,” said Secretary of Commerce Wilbur Ross. “This project will allow businesses in one of the most advanced sectors with the tools they need to grow and thrive.”

“This multi-million dollar federal investment in Cape May’s future is a testament to the power of public-private partnerships in creating economic growth and 21st Century jobs,” said Senator Menendez. “Building the new ‘tech village’ right at Cape May County Airport will not only immediately create good-paying jobs, the final training facility will empower entrepreneurs and businesses in the fast-growing field of unmanned aerial vehicles. As someone who went to bat for this project and has long fought to boost federal funding for the Economic Development Administration, I’m proud to see these federal dollars go toward Jersey jobs and advancing our state’s reputation as a hotbed of innovation.”

“This federal investment is welcome news in Cape May County, which has been at the forefront of UAS testing and development,” said U.S. Congressman Frank LoBiondo (R-NJ). “From maritime and emergency response to applications in the energy and infrastructure inspection sectors, UAS operations in Cape May County continue to showcase a strong public-private partnership that benefits all parties. As Chairman of the House Aviation Subcommittee, I am proud to have worked closely for the past few years with county officials to create local opportunities in UAS and I applaud the Trump Administration’s support of innovation and emerging technologies that will further drive our economy forward in the 21st Century.”

This project will provide essential resources to UAS businesses, a growing industry in the region. Companies in the facility will each be provided with 5,000 square-feet of space that will include offices and manufacturing areas. This project was made possible by the regional planning efforts led by the South Jersey Economic Development District. EDA funds the South Jersey Economic Development District to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs.

(Source: U.S. Economic Development Administration news release)

FMI: www.eda.gov