Grants and low-interest loans will support economic development in Douglas, Franklin, Jefferson, Pacific, Skagit, Snohomish counties
OLYMPIA, WA – The Washington State Community Economic Revitalization Board (CERB) approved $2,572,039 in loans and grants for public infrastructure development and economic feasibility studies targeting business growth and job creation in the Port of Douglas County, Port of Pasco, Port of Port Townsend, Pacific County, Port of Anacortes, and City of Everett.
Douglas County – $291,552 loan and $87,412 grant to the Port of Douglas County for the Giga Watt Construction Project. It will extend domestic water, industrial irrigation water and sanitary sewer lines, install power conduit, vaults, landscaping, street lighting and storm water facilities, and excavate, compact and pave roadway into the property with a cul-de-sac for fire truck turn around. Giga Watt will invest $20 million, retaining 16 jobs and creating 61 jobs as a result of this project. CERB funds are matched by $94,741 in local resources.
Franklin County – $1.7 million loan and $300,000 grant to the Port of Pasco for ARM Aerial Research Facility Project. This committed private partner project will construct a 17,727 square foot pre-engineered metal building frame with metal sheeting and a metal roof. The U.S. Department of Energy will base $26 million worth of sophisticated scientific equipment in this building, retaining 15 jobs and creating three jobs as a result of this project. CERB funds are matched by $600,000 in local resources.
Jefferson County – $50,000 grant to Port of Port Townsend for a feasibility study to develop a business plan for the properties at the Quilcene Marina and industrial site that will support tenant growth, financial sustainability of the port and other community benefits. CERB funds are matched by $17,000 in local resources.
Pacific County – $49,200 grant to Pacific County for a feasibility study to develop an overall economic development plan addressing stagnant economic growth in Pacific County, including six identified geographic/culturally distinct sub-planning areas. CERB funds are matched by $16,400 in local resources.
Skagit County – $50,000 grant to Port of Anacortes to develop a real estate strategy that will include a market assessment, conceptual site planning and business plan for the port’s waterfront properties. CERB funds are matched by $29,000 in local resources.
Snohomish County – $45,000 grant to the City of Everett for the Everett Innovation Center. This is a feasibility study to finalize construction requirements, financial support and operations of the proposed center. CERB funds are matched by $13,500 in local resources.
“The CERB Program is designed to respond to emergent business development needs for public infrastructure and provide long-range feasibility planning to help communities plan for future business development. The projects approved today are perfect examples of how CERB partners with our communities.” said CERB Chair David Rhoden
“These targeted investments from Washington state’s capital budget are essential to building the infrastructure needed to support economic growth and create jobs that strengthen our rural communities,” said Brian Bonlender, director of the state Department of Commerce.
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.
Preview CERB’s 2015 -17 Biennium in Review and check out CERB’s interactive project map for the 2015-17 approved projects.
Since 1982, CERB has committed nearly $174 million to local jurisdictions across the state, an investment generating more than 35,000 jobs, and private capital investments of a $5.6 billion ($34 to $1) return on CERB investment.
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.
Penny Thomas, Commerce Communications, (206) 256-6106
Janea Eddy, CERB Program Director & Tribal Liaison, (360) 725-3151