FUNDING EXTENDED FOR ECONOMIC PARTNERSHIP BENEFITING NORFOLK BUSINESSES

The Norfolk Economic Development Authority (EDA) has renewed a $30,000 grant to Old Dominion University's Technology Applications Center (TAC) that makes it easier for city businesses to apply technology to optimize productivity, retain and increase employment and increase profitability.

Under the partnership, businesses who seek the technological assistance of TAC would be eligible for up to $2,500 for product development and testing, manufacturing assessment, design, automation and quality assurance. Additionally, disadvantaged businesses may qualify for up to $4,500.

"The EDA enthusiastically endorses TAC's efforts that increase the economic vitality of this city, especially for Norfolk's minority entrepreneurs," said EDA Chairman George Bryan.

TAC, an enterprise center of the College of Engineering and Technology funded by Virginia's Center for Innovative Technology, brings together manufacturing specialists, leading academicians, students and skilled technicians to work with Virginia companies to solve engineering and manufacturing problems and support innovative technology applications. Companies can tap into expertise combined with exceptional university resources and laboratory facilities to develop new technologies, find ways to economically upgrade current technology and ensure their processes produce optimum results.

" One of our principal goals at Old Dominion University is to directly contribute to the economic growth of the region," said Jerry Robertson, director of TAC. "I'm very pleased that Norfolk's EDA continues to support our efforts."

For more information on the Economic Development Authority Business Assistance Grants call 683-5505.