Community Economic Revitalization Board invests $4.9 million in nine counties
Two of largest projects include private partner investments of $120 million by Sunnyside Community Hospital Association for new hospital construction and $10 million by KW Partners/FedEx at Port of Everett.
OLYMPIA, WA – The Washington State Community Economic Revitalization Board (CERB) today approved $4,956,250 in grants and low-interest loans for public infrastructure development and economic feasibility studies in nine counties across the state. The projects target business growth and job creation in Chelan, Clallam, Cowlitz, Grant, Lewis, Lincoln, Snohomish, Walla Walla, and Yakima counties.
Two of the largest projects – Sunnyside Community Hospital and Riverside Business Park at the Port of Everett – bring $130 million in committed private partner investment. A third big construction project at the Port of Chehalis, estimates $30 million will be invested there.
Chelan County – $50,000 grant to the Port of Chelan County for a feasibility study to assess and create an inventory of land and buildings in Chelan County, zoned for various types of industrial and commercial development. CERB funds are matched by $16,667 in local resources.
Clallam County – $50,000 grant to the City of Sequim for the Bell Creek Economic Opportunity Area Plan. This is a “subarea plan” to include site analysis, market analysis, and direction for future development within the Bell Creek Economic Opportunity Area (EOA). CERB funds are matched by $17,000 in local resources.
Cowlitz County – $50,000 grant to the Port of Woodland for a feasibility study and market analysis to determine the practicality of constructing dark fiber infrastructure for two routes independently, the return on investment in infrastructure, and the market needs based on the rural makeup of the routes. CERB funds are matched by $25,000 in local resources.
Grant County – $50,000 grant to the City of Soap Lake for the Mineral Water System Plan. This is a feasibility study to assess the capital facilities in the water system, prepare cost estimates for proposed upgrades, develop a debt and revenue impact analysis and provide an assessment of environmental impacts and permitting. CERB funds are matched by $16,667 in local resources.
Lewis County – $665,000 loan and a $100,000 grant to the Port of Chehalis for the Pinnacle Construction Project. This prospective development consists of site preparation to include construction of earthwork, roads, underground utilities (water, sanitary sewer, electricity, telecommunications) and storm water management, which will result in a nine-acre building pad. The port estimates that 234 jobs will be created and $30 million will be invested as a result of this project. CERB funds are matched by $1.4 million in local resources.
Lincoln County – $50,000 grant to the county for a feasibility study for a highest and best use analysis of the Lincoln County Fairgrounds. CERB funds are matched by $16,667 in local resources.
Snohomish County – $1.85 million loan to the Port of Everett for the Riverside Business Park Improvements construction project. This committed private partner project consists of a connecting road, upgraded fire flow and re-route and installation of power, water, sewer and storm water utilities. Partners KW Projects/FedEx, will invest $10 million, resulting in 50 jobs retained and 49 new jobs created. CERB funds are matched by $1,096,000 in local resources.
Walla Walla County – $50,000 grant to the City of College Place for the Central College Place Planning Study. This is a feasibility study for a site appropriateness survey, a location analysis, a marketing strategy and a preliminary infrastructure analysis to determine if the 10-acre site is appropriate for light industrial use. CERB funds are matched by $16,667 in local resources.
Yakima County – $2 million loan to the City of Sunnyside for the Sunnyside Community Hospital construction project. This committed private partner project consists of construction of domestic water, fire protection, sanitary sewer and transportation improvements to the new hospital site. Partner Sunnyside Community Hospital Association will invest $120 million, retaining 523 jobs and creating 32 new jobs as a result of this project. CERB funds are matched by $1 million in local resources.
Yakima County – $41,250 grant to the Port of Sunnyside for a feasibility study that will include an infrastructure analysis, conceptual site plan, economic feasibility study, marketing study and wage analysis for the Miles Smith Property. CERB funds are matched by $13,750 in local resources.
“These projects represent the range of projects that CERB funds — projects that lead to job growth across the state through infrastructure development and planning,” said CERB Chair David Rhoden. “The board is pleased to collaborate with each of these communities as they work to create permanent private-sector jobs.”
“Washington’s economy was the fastest growing in the nation last year, yet we know that many parts of our state are not full participants in that prosperity,” said Brian Bonlender, Director of the Washington State Department of Commerce. “Attractive financing tools provided by CERB are essential to strengthening rural communities and a good investment in our shared economic future.”
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 $163 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.
Contact:
Penny Thomas, Commerce Communications, 206-256-6106
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