Business

UVI to Launch 'UVI EDA University Center' Through Five-Year, $260,000 Per Year Grant Awarded by U.S. EDA

The University of the Virgin Islands has been awarded a five-year grant as a co-applicant with the University of Puerto Rico from the U.S. Economic Development Administration through the 2021 University Center Economic Development Program Competition. According to a UVI release, the grant, provided as part of funding to twenty-five colleges and universities in seventeen states and Puerto Rico, will allow UVI to launch the UVI EDA University Center which is one of many EDA national programs aimed at building strong regional economies and supporting community-led economic development. The grant totals $1.3 million over the course of five years, with $260,000 being awarded each year, UVI said. According to a description on the U.S. EDA's website, the purpose of the University Center program is to enable institutions of higher education and consortia of institutions of higher education to establish and operate university centers specifically focused on leveraging university assets to bui...