Funding for the 15,000-square-foot Business Incubator, located on the agriculture campus, was completed in 2005. The UT Research Foundation received $2.5 million in local, state, and federal grants for the facility. The federal money came as a matching grant from the US Economic Development Administration (EDA) for funds contributed by UT, Knox County, the Tennessee Department of Economic and Community Development, the Tennessee Valley Authority, and the Knoxville Utilities Board. The Technology 2020 Center for Entrepreneurial Growth assists the UT Research Foundation in managing the incubator. The incubator is designed to maximize the impact of technologies developed at UT to grow businesses and jobs. The incubator officially opened on June 21, 2007, in a ceremony coinciding with the meeting of the UT Board of Trustees.