Arrowhead Center at New Mexico State University aims to help identify and meet New Mexico’s health care delivery and technology development needs through a new grant from the U.S. Economic Development Administration.
NMSU’s economic development hub will receive $488,000 in grant funding to create a master development plan for Arrowhead Park that includes a health care technology cluster to better support startup companies focused on improving health care in the region and diversify the state’s economy.
The funding comes from the EDA’s Regional Innovation Strategies Program Science and Research Park Development Grant, which helps regions plan the creation or expansion of innovation centers. Arrowhead Park, a public-private land development partnership, offers space, facilities and services for technology-based businesses and connects entrepreneurs to researchers.
The health technology cluster plan will incorporate market analysis of the needs of this key sector in the region and guidelines for master-planned development of Arrowhead Park to meet identified demands.
“This award will have a significant impact on our work to create a sense of place for innovation in our region,” said Kathy Hansen, director of Arrowhead Center. “With this funding, we will be able to greatly expand our capacity to bring a single hub together with the talent and ventures that drive an innovation economy.”
The Science and Research Park Development Grants program provides funding for feasibility and planning for the construction of new or expanded science or research parks, or the renovation of existing facilities.
Wayne Savage, executive director of Arrowhead Park, said the grant will provide the foundation for much-needed job growth and workforce development in the health care and medical technology industry sectors.
“Our goal,” Savage said, “is to develop Arrowhead Park as an innovation community that catalyzes a more effective, efficient health care delivery model for New Mexico and the region, and improved health overall for our underserved populations.”
In announcing the grant award, U.S. Assistant Secretary of Commerce for Economic Development Jay Williams said supporting innovators and entrepreneurs at every stage is crucial to ensuring America remains competitive in the global economy.
“The Regional Innovation Strategies Program lays the groundwork from which centers of research and innovation can take root and thrive in cities across the country,” Williams said. “I look forward to seeing what innovative opportunities come from Regional Innovation Strategies’ funding.”
An agency within the U.S. Department of Commerce, the EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.
Arrowhead Center has also received grants through the EDA’s University Center Economic Development Program, to identify gaps in the regional commercialization ecosystem and create programs that increase statewide participation in commercialization efforts, and the i6 Challenge, a national competition to spur innovation, accelerate commercialization of ideas to market, and create companies and jobs through support of proof of concept centers.
Release courtesy of NMSU News Center.
