Posted by: Carly Schroer
Grants to prepare economic development sites for market
NASHVILLE — The Tennessee Department of Economic and Community Development announced today the opening of site development grant applications to help communities transform industrial sites to shovel-ready status as part the Select Tennessee Site Certification program.
“The site development grants are great assets for communities to attract new businesses and thrive,” TNECD Commissioner Randy Boyd said. “With the help of these grants, communities across the state can develop a tangible product – a highly-prepared site – that companies are looking for in order to locate in our state, which will, in turn, help communities succeed.”
As part of the recently announced Rural Economic Development Fund, Tennessee is investing $6 million in site development grants to aid eligible communities. The Site Development Grant program assists communities and helps them make infrastructure upgrades and other improvements to develop project-ready sites.
The grants are intended to help communities overcome barriers to site certification and prepare them for economic development projects. In the first round of grants announced in May, TNECD funded 15 projects with a total investment of $5.7 million in site development grants.
Applicants are eligible for up to $500,000 with a match requirement based on each community’s economic status.
All interested local governments must submit a Letter of Interest by November 18, 2016 and a completed application by December 9, 2016 at 4:30 p.m. CST. Additional information regarding the grant can be found here.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.