Washington State Community Economic Revitalization Board invests $1,437,500 to support economic development

July 27, 2018|News Releases

Low-interest loan and four grants target public infrastructure and job creation in Clallam, Douglas, Island, and Pend Oreille counties.

OLYMPIA, WA – The Washington State Community Economic Revitalization Board (CERB) approved $1,437,500 in loans and grants for public infrastructure development and economic feasibility studies targeting business growth and job creation at the Port of Port Angeles, Port of Douglas County, Island County, and the city of Newport.

  • Clallam County – $1,105,000 loan and $195,000 grant to the Port of Port Angeles for the Marine Trades Industrial Park wash-down facility. This prospective development project consists of construction of Phase 1A of the Marine Trades Industrial Park, which includes an 18,500 square foot boat wash-down facility. The port estimates the project will create 250 jobs within five years. CERB funds are matched by $1,325,105 in local resources.
  • Douglas County – $50,000 grant to the Port of Douglas County for the Rock Island Adaptive Reuse Feasibility Study. This feasibility study focuses on adapting two closed industrial buildings on the Columbia River at the former American Silicon Smelter facility for reuse. CERB funds are matched by $200,000 in local resources.
  • Island County – $50,000 grant to Island County for the Whidbey Airport Access Study. This feasibility study will develop a conceptual alignment for a new public road to the Whidbey Airpark Industrial Area from SR 525. CERB funds are matched with $16,667 in local resources.
  • Pend Oreille County – $50,000 grant to the City of Newport for the Newport Hotel/Motel Feasibility Study. This study will analyze demand for a hotel/motel, determine the appropriate size, construction and operating costs, and job creation. CERB funds are matched by $16,667 in local resources.

“Targeted local investments in public facilities are essential to building a foundation for successful and sustainable economic growth. CERB’s mission is to help local governments and tribes finance their vision for the future,” said CERB Chair Randy Hayden.

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 $163 million to local jurisdictions across the state, an investment generating more than 35,000 jobs, and private capital investment of a $5.6 billion ($34 to $1) return on CERB investment.

About the Community Economic Revitalization Board (CERB)
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 strengthen communities by encouraging 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 at www.commerce.wa.gov/cerb.

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Contacts:
Janea Delk, CERB Program Director & Tribal Liaison, (360) 725-3151
Penny Thomas, Commerce Press Office, (206) 256-6106

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