Washington Community Economic Revitalization Board invests $4.6 million in two Spokane County infrastructure projects
OLYMPIA, WA – The Washington State Community Economic Revitalization Board (CERB) today approved a total of $3,828,000 in low-interest loans and $828,000 in grants for economic development, and public infrastructure development targeting business growth, job creation and broadband development in two Spokane County communities:
- Kalispel Tribe of Indians Rural Broadband Project was awarded an $828,000 loan and a $828,000 grant. This project consists of design and construction of dark fiber routes to serve Tribal residential and business/industrial lands. This project is expected to produce 419 high-speed connections and result in eight internet service providers serving the area. CERB funds are matched by $533,333 in local resources.
- Spokane Conservation District Conservation Campus Phase II Project was approved for a $3 million loan. This project consists of construction of a 14,000-square-foot building and underground utilities to include water, sewer, storm water, telecommunications, electrical, gas and erosion control. The district’s committed private partner, Intrinium, Inc., is investing $350,000 in the private project which is expected to create and retain an estimated 201 IT and communication services jobs within five years. CERB funds are matched by $750,000 in local resources.
“Targeted local investment in public facilities is essential to building a foundation for successful and sustainable economic growth. Our mission through CERB is to help local governments and Tribes finance their vision for the future.” said CERB Chair Randy Hayden.
“CERB funding is an effective support and catalyst for additional public and private investment in infrastructure that is essential to strengthening Washington communities,” said Washington State Commerce Director Lisa Brown.
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 $203 million to local jurisdictions across the state, an investment generating more than 36,000 jobs, and private capital investment of a $5.8 billion – a $29-to-$1 return on CERB investments.
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.
Kalispel Tribe: Daniel Clark, Economic Development Policy Analyst, (509) 904-7862, email@example.com
Spokane Conservation District: Vicki Carter, Director, (509) 535-7274, Vicki-Carter@sccd.org