NEWS RELEASE: Community Economic Revitalization Board invests $2.3 million to grow local economies
Funds will support economic development in Clark, Cowlitz, Douglas and Whitman counties
OLYMPIA, Wash. – The Washington State Community Economic Revitalization Board (CERB) today approved $2,353,500 for public infrastructure development and economic feasibilities studies targeting business growth and job creation in the Port of Camas-Washougal, Port of Ridgefield, city of Woodland, Port of Douglas County, and city of Colfax.
- Clark County – $1,700,000 loan and a $300,000 grant to the Port of Camas-Washougal for 50,000-square foot Industrial Building #18 construction project. This prospective development project is to construct a new 50,000 square foot metal pre-fab building, slab on grade, in Steigerwald Commerce Center. The estimated private investment is $1,000,000, with an estimated 70 permanent jobs to be created, as a result of this project. CERB funds were matched by $3,750,000 in local resources.
- Clark County – $50,000 grant to the Port of Ridgefield for Dark Fiber Optics – Needs Assessment/Feasibility Study. This is a feasibility study to assess the need, cost and rate of return related to constructing a fiber optic broadband “loop” around the Ridgefield Port District. CERB funds were matched by $50,000 in local resources.
- Cowlitz County – $22,500 grant to the city of Woodland for Downtown Façade Improvement Plan. This feasibility study will conduct a market analysis, develop a property inventory, review and revise existing city codes, identify needed resources and create a façade improvement program. CERB funds were matched by $7,500 in local resources.
- Douglas County – $107,500 loan and a $300,000 grant to the Port of Douglas County for the Lot 17 Development and Infrastructure Construction project, for Salcido Enterprises. LLC. This committed private partner project consists of installing power conduits and vaults, landscaping, and storm water facilities; water line and sanity sewer line extensions; roadway improvements. Salcido Enterprises, LLC will invest $10,000,000 in a 32,400 square foot building and create or retain 47 permanent jobs as a result of this project. CERB funds were matched by $85,000 in local resources.
- Whitman County – $36,000 grant to the city of Colfax for the Lower A Street Industrial Park Wastewater Siphon Engineering Plan. This is a feasibility study to develop engineering plans for six wastewater siphons, location analysis, cost-benefit analysis and site appropriateness for more active warehousing use. CERB funds were matched by $12,000 in local resources.
“CERB’s role is to be responsive to local needs by making timely and smart investment decisions. The board is pleased to collaborate with each of these communities to plan for future private sector jobs for Washington families,” said CERB Chair David Rhoden
“CERB’s mission of creating jobs and sustainable rural economies is vital to our work in strengthening communities throughout the state. Working together, we provide targeted support for local governments and tribes to help them envision and achieve a resilient economic future,” said Brian Bonlender, Director of the Washington 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.
Since 1982, CERB has committed nearly $206 million to local jurisdictions across the state, an investment generating more than 34,000 jobs, and private capital investments of a $5.7 billion ($27 to $1) return on CERB investment. CERB recently released the 2016 Biennial Local Infrastructure Financing Tool (LIFT) Legislative Report.
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.
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Contact: Penny Thomas, Commerce Press Office, (206) 256-6106