Tennessee has announced a significant investment of over $17 million in Site Development Grants aimed at enhancing infrastructure and engineering capabilities across 11 communities. This initiative, led by Governor Bill Lee and TNECD Commissioner Stuart C. McWhorter, is part of the state’s ongoing efforts to boost economic development in rural areas.
Key Takeaways
- Total Funding: Over $17 million awarded to 11 communities.
- Purpose: To improve infrastructure and achieve Select Tennessee certification.
- Economic Impact: Nearly $100 million allocated since 2016, creating over 7,000 jobs.
Overview of the Grants
The Site Development Grant program is a crucial component of the Rural Economic Opportunity Act, which focuses on revitalizing Tennessee’s rural economies. Governor Bill Lee emphasized the importance of having shovel-ready industrial sites, stating that they can be pivotal for attracting businesses to the state.
"A shovel-ready industrial site can be the deciding factor for a company looking to do business in Tennessee, and that’s why our efforts are critical to community and economic development," said Governor Lee.
Recipients of the Grants
The funding will support a variety of projects, including property grading, infrastructure improvements, and speculative building construction. Here’s a breakdown of the grant recipients and their respective allocations:
| Community/Board | Grant Amount | Purpose |
|---|---|---|
| City of Trenton Economic and Industrial Development Board | $20,000 | Due diligence at Trenton IDB Building |
| City of Union City | $1,100,000 | Property clearing and grading at Northwest TN Regional Industrial Center |
| Clarksville-Montgomery County Area Economic Development Council | $600,000 | Access road construction and due diligence at North Industrial Park |
| Industrial Board of Coffee County | $1,610,450 | Sewer infrastructure at Manchester Industrial Park |
| Industrial Development Board of Morristown | $4,000,000 | Speculative building construction at East TN Progress Center Lot 10 |
| Industrial Development Board of Benton County | $1,937,050 | Property purchase at Smith Property |
| Industrial Development Board of Fentress County | $100,000 | Due diligence at Clarkrange Regional Business Park |
| Industrial Development Board of Scott County | $66,500 | Due diligence at Airport Industrial Site |
| Industrial Development Board of Fayetteville and Lincoln County | $3,500,000 | Speculative building construction at Runway Centre Industrial Park |
| Industrial Development Board of Bradley County and Cleveland | $2,946,186 | Property grading at Spring Branch Industrial Park Lots 8 & 9 |
| Paris-Henry County Industrial Committee | $1,123,760 | Property clearing and due diligence at Paris-Henry County Industrial Park |
Future Prospects
This latest round of funding is expected to pave the way for economic growth and job creation in Tennessee’s rural communities. Commissioner McWhorter highlighted the importance of local leadership in setting the stage for future investments.
"Eleven Tennessee communities are one step closer to achieving Select Tennessee Site certification through today’s announcement. Tennessee’s rural communities are the backbone of our state, and I applaud the local leaders who have taken the necessary steps to set each of these communities up for future economic investment and job creation," he stated.
As Tennessee continues to invest in its infrastructure and community development, the impact of these grants will be closely monitored, with hopes of fostering a thriving economic environment for years to come.
