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State board invests more than $1 million in economic development projects
SubTitle
9/17/2009
Divisions: Economic Development
Programs: Community Economic Revitalization Board Admin
Area:
WASHINGTON STATE DEPARTMENT OF COMMERCE
FOR IMMEDIATE RELEASE
Date: September 17, 2009
Contact: Matt Ojennus, Interim CERB Program Manager, 360.725.4047
Nisha Wade, Commerce Communications, 360.725.4039
State board invests more than $1 million in economic development projects
Funds will create jobs and stimulate local economies in Asotin and Cowlitz counties
OLYMPIA – The Washington State Community Economic Revitalization Board (CERB) today announced more than $1 million in public investments targeting job creation and business growth in Asotin and Cowlitz counties.
“CERB's investment in these projects will support local communities and help lift us out of the current recession,” said Gov. Chris Gregoire. “The projects will grow jobs and income, and build stronger communities for our families.”
Since 1982, CERB has committed more than $144 million to counties across the state, an investment generating nearly 36,000 jobs. The board approved the following projects at today’s meeting:
· Asotin County - $190,000 in loans and grants to the City of Asotin for replacement of water lines and installation of fire hydrants in an industrial development recently annexed into the city. The project supports the retention and expansion of a machine and fabrication business in the development. As a result of this project, 17 jobs are expected to be created and retained, which will exceed the average county wage by 45 percent. It also provides for future industrial growth in the development.
· Cowlitz County - $1 million loan to the Port of Longview for the construction of a new 500-foot long by 50-foot wide dock that will accommodate Panamax size ships. The structure will primarily handle cargo for Export Grant Terminal Development, LLC’s, proposed $200 million grain export facility in the Port’s East Industrial Park. The project will create 50 jobs and is matched by $6.7 million in public funds.
“These strategic infrastructure investments spur business development and job growth,” said Rogers Weed, director of the Washington State Department of Commerce. “CERB’s investments are vital to the state’s economy and to our local communities.”
As Washington’s strategic economic development resource, CERB is focused on creating private sector jobs in partnership with local governments by financing infrastructure improvements. These improvements encourage new business development and expansion. In addition to funding construction projects, CERB provides limited funding for studies that evaluate high-priority economic development projects. Learn more about CERB at www.commerce.wa.gov/cerb.
The release of CERB funds to these projects is contingent upon each applicant completing specific pre-contract requirements, such as finalizing other funding sources and obtaining necessary permits.
CERB receives management services from the Washington State Department of Commerce. For more information on the Department of Commerce, visit www.commerce.wa.gov.
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Local contacts:
James Miller, Mayor, City of Asotin, 509.243.4411
George Cress, Director, Real Estate & Planning, Port of Longview, 360.425.3305
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