Community Economic Revitalization Board announces nearly $1.7 million in grants and loans
Public investments to fund infrastructure development and economic feasibility studies in Cowlitz, Douglas, Franklin, and Jefferson counties
The Washington State Community Economic Revitalization Board (CERB) today approved $1,687,500 in public investments for infrastructure development and economic feasibility studies targeting business growth and job creation in the cities of Kelso, Connell and Port Townsend, Cowlitz County, and the Port of Douglas County.
Jefferson County – $1.2 million loan and a $300,000 grant to the City of Port Townsend for the Howard Street Corridor Public Infrastructure project, a prospective development construction project to include a new regional stormwater facility. The project will turn 82.5 acres of vacant and underutilized land into shovel-ready industrial property. As a result, 76 jobs are expected to be created. CERB funds are matched by $5 million in local resources.
City of Kelso – $50,000 grant for the Anchor Point Industrial Park Master Plan, a master planning study to evaluate the potential development of the Anchor Point Industrial Park as a heavy industrial marine terminal. CERB funds are matched by $50,000 in local resources.
Douglas County – $50,000 grant to Port of Douglas County for the North End Planning Study, a feasibility study to develop a master plan and a planned action Environmental Impact Statement (EIS) for the Greater East Wenatchee Urban Growth Area (UGA). CERB funds are matched by $88,849 in local resources.
Franklin County – $50,000 grant to the City of Connell for the Connell Rail Interchange Study to evaluate feasbility, preliminary design and cost estimates of the project. CERB funds are matched by $15,000 in local resources.
Cowlitz County – $37,500 grant for the Mt. Solo Landfill Redevelopment Planning Study, a feasibility study to evaluate the option for removal of the waste to re-establish compliance of the landfill, while providing a benefit to the community through repurposing the land for industrial development. CERB funds are matched by $12,500 in local resources.
“These investments in public infrastructure are crucial to attract private capital and businesses that stimulate local economic development and create jobs,” said Brian Bonlender, director of the Washington State Department of Commerce.
“Targeted local investment in public facilities is essential to building a foundation for successful and sustainable economic growth,” said CERB Chair Steve Anderson. “Our mission through CERB is to help local governments finance their vision for the future.”
CERB recently released the 2014 Biennial Legislative Report, highlighting activities and successes from 2009-2013.
Since 1982, CERB has committed nearly $206 million to local jurisdictions across the state, an investment generating more than 34,000 jobs. The public investments generated private capital investments of $5.7 billion – an ROI of $27 to $1.
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.