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DETROIT-Michigan Technological University and the city of Onaway are getting a combined $3.6M from the US Economic Development Administration. The university in Houghton, MI will receive $2.4 million to help build an advanced technology development complex.

The city of Onaway will get $1.2 million to build two commercial areas in its industrial Renaissance Zone.

President (George W.) Bush believes one way to create jobs is to grow the economy by encouraging investments in local communities,” says US Commerce Secretary Don Evans in a statement.

The Economic Development Administration serves as a venture capital resource to meet the economic development needs of distressed communities throughout the US, Evans says. The administration partners with states, units of local government and community nonprofit organizations in economically distressed areas, regions and communities in order to alleviate conditions of poverty and substantial and persistent unemployment and underemployment.

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