Oklahoma City i2E Receives $1 Million EDA Grant
June 3, 2010

Contact:

Matt Dempsey Matt_Dempsey@epw.senate.gov (202) 224-9797

David Lungren David_Lungren@epw.senate.gov (202) 224-5642

Oklahoma City i2E Receives $1 Million EDA Grant

WASHINGTON, D.C. - U.S. Sen. James M. Inhofe (R-Okla.) is pleased to announce today a $1,000,000 grant from the U.S. Economic Development Administration (EDA) for i2E, Inc, of Oklahoma City. This EDA investment funds the Oklahoma City Technology Business Launch Program, which i2E will locate in the Presbyterian Health Foundation Research Park in Oklahoma City. The project will develop new growth services for area entrepreneurs. The program will provide area entrepreneurs with enhanced, interactive and experienced advisory services during a company's early stage of formation, designed to accelerate its growth and meet critical milestones to enter the commercial market. The grant application was supported in collaboration with Inhofe, the City of Oklahoma City, and the Greater Oklahoma City Chamber of Commerce.

"The EDA grant awarded today to i2E is great news for Oklahoma City," said Inhofe. "This project will accelerate the growth of early-stage advanced technology companies and create new high-tech jobs where many manufacturing jobs have been lost.

U.S. Assistant Secretary of Commerce for Economic Development John Fernandez: "As EDA promotes innovation and regional collaboration strategies that enhance our nation's entrepreneurial ecosystem, this investment to advance i2e's efforts to accelerate the technology commercialization sector in Oklahoma City will help create new job opportunities for local workers and prepare the region for growth and competitiveness.

Tom Walker, President & CEO i2E, Inc.: "This is exciting news for the Oklahoma City innovation and entrepreneurial community.  Thanks to the EDA and our local partners - the City of Oklahoma City, the Greater Oklahoma City Chamber, the Presbyterian Health Foundation, the Oklahoma Medical Research Foundation and the Oklahoma Business Roundtable - we will soon begin to see an acceleration of innovation in our region and the creation of high impact jobs in Oklahoma City and our state.

"This grant will allow Oklahoma and Oklahoma City to better serve our start-up and growth stage companies," said Roy Williams, President and CEO of the Greater Oklahoma City Chamber. "These firms, which could be our next generation of headquarter companies, are critical to the long term economic health of our community and state. Partnerships such as this make perfect sense for the Greater Oklahoma City Chamber."

Background:

- EDA works with partners in local communities to create wealth and minimize poverty by promoting favorable business environments that attract private investment and encourage long-term economic growth.

- Inhofe, through his leadership position on the EPW Committee, has long been a supporter of EDA. Earlier this year, Inhofe joined Senator Barbara Boxer (D-CA), Chair of the EPW Committee and several members of the committee to introduce legislation to reauthorize the EDA. As Chairman of the EPW Committee in 2004, Inhofe sponsored the last reauthorization of EDA.

- Since Inhofe became Chairman of the Committee in 2003, the EDA has awarded $33 million in project and infrastructure funding in Oklahoma, which has been leveraged with $32.7 million in state and local dollars and $625 million in private investments, creating more than 9,000 jobs. Oklahoma cities from Woodward to Elgin, Claremore to Durant, have already benefited from the great work EDA does.

Learn More:

Inhofe Bipartisan Jobs Bill Advances to Senate Floor

Woodward: City receives $1 million Grant for Conference Center

Adair County:  Inhofe Announces $900,000 EDA Grant

INHOFE ANNOUNCES $1.9 MILLION EDA GRANT FOR CLAREMORE RAILROAD CONSTRUCTION

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