The I-20 Corridor Regional Accelerator has the potential to serve as a model for the rest of the country in fostering economic development in rural communities, according to federal officials.

Representatives from the Obama administration visited Louisiana Tech University on Thursday to tour the campus and discuss the selection of the I-20 Corridor Accelerator as a winner in the Rural Jobs and Innovation Accelerator Challenge — a national competition designed to spur job creation and economic growth in rural communities by identifying and leveraging local assets and strengthening linkages to industry.

Louisiana Tech partnered with Winrock International Institute for Agricultural Development in Little Rock, Ark., to develop the I-20 Corridor Accelerator proposal, one of 13 projects in the nation to receive an award.

As one of the winners in the national challenge, the project was recently awarded $964,134 by the U.S. Department of Commerce's Economic Development Administration, the U.S. Department of Agriculture and the Delta Regional Authority. The award was the second largest given to any regional proposal.

The project will integrate the community capacity building of Winrock with business and economic development led by Louisiana Tech.

Matt Erskine, acting assistant secretary of commerce for economic development at the U.S. Department of Commerce, said the program was highly competitive, with more than 60 applicants from across the nation.

What set the I-20 Corridor Accelerator apart was its "wide impact," Erskine said.

"It's wonderful to see this level of partnership," he said.

The I-20 Corridor Accelerator will focus on boosting business and creating new jobs in rural communities along the I-20 Corridor and southern Arkansas by capitalizing on the strengths of each institution and using the assets of the local economy.

Erskine said the idea is to help strengthen some of the economic clusters already developing throughout the region, including telecommunications, energy, green technology and biosciences.

Chris Masingill, federal co-chairman of the Delta Regional Authority, said a tour of Louisiana Tech's campus impressed him, adding that he had a "new-found appreciation" for the opportunities and resources the university has to offer in terms of job creation and business acceleration.

"When you have a stronger rural America, you have a stronger America," he said. "This is the kind of project that helps build an economy to last."

Kathy Wyatt, director of the Technology Business Development Center at Louisiana Tech, said as part of the partnership, Louisiana Tech will work with existing businesses and aspiring entrepreneurs in helping them identify and assess new business opportunities.

She said the university will also help with the development of a funding proposal and a business plan for each business or entrepreneur.

Because Winrock specializes in providing community capacity building activities and initiatives in small communities, it will work with municipalities, economic development organizations and other local leaders to identify an area's specific strengths and capabilities, Wyatt said.

The primary goal of the project and the reason for the Rural Jobs and Innovation Accelerator Challenge is to promote small business growth in rural communities and allow small communities to play a larger role in the region's economic development.