February
22, 2007
Kerr-Tar
Hub Receives Economic Development Grant
Henderson
, N.C. – The Kerr-Tar Hub project has received an $800,000
state grant to help purchase property for its new industrial
parks.
The
grant was one of 11 grants totaling $10 million made to government
and nonprofit entities by the North Carolina Department of
Commerce for local and regional economic development projects.
Recipients were chosen from among 79 applicants for funds
from the 2006 Economic Development Reserve, a one-time allocation
set aside by the N.C. General Assembly last year to boost
development throughout the state.
“The
applications we received constituted a lot of hard work by
the project sponsors documenting worthy proposals,” said N.C.
Commerce Secretary Jim Fain. “We considered each of them carefully
and the projects announced today represent promising efforts
to address state, regional and local economic needs.”
“We're
delighted that the state continues to show such strong support
for our economic development project,” said Danny Wright ,
chairman of the Kerr-Tar Regional Economic Development Corporation
(KTREDC), the nonprofit organization formed to own and develop
the Hub. “We expect the Kerr-Tar Hub to provide a significant
boost to our region's economy and help our citizens participate
in the innovative economy of the greater Research Triangle
Region and the state.”
The
Kerr-Tar Hub is an unprecedented multi-county effort to enable
the four rural N.C. counties of Franklin, Granville, Vance
and Warren to create a network of specialized industrial parks
to attract new investment and create jobs. The Hub's leadership
is in the process of developing a business plan for the KTREDC,
acquiring land and creating marketing and land use plans.
The
Reserve fund was created by the General Assembly as part of
the 2006 budget to provide a source of funding for governments
and nonprofits seeking to implement local economic development
projects or acquire land for economic development purposes.
The
Reserve award is the latest state grant received by the Hub
project. Last year, the Hub received a $4 million grant from
the General Assembly for the purchase of property, site development
and infrastructure. The N.C. Department of Transportation
granted $400,000 to each of the four participating counties
to develop entryways, turn lanes and signage for the Hub parks.
To
date, the Kerr-Tar Hub project has attracted $6.2 million
in grants from government agencies and private foundations,
including Golden LEAF, Kerr-Tar Workforce Development Board,
N.C. Department of Commerce, U.S. Department of Commerce Economic
Development Administration, North Carolina Rural Economic
Development Center , N.C. General Assembly and the N.C. Department
of Transportation.
For
more information on the Hub project, visit www.kerrtarhub.org
or contact Timmy Baynes , executive director of the Kerr-Tar
Regional Council of Governments, administrator for the Hub
project, at (252) 436-2040 or tbaynes@kerrtarcog.org
.
#
# #
Contact:
Timmy Baynes , (252) 436-2040 or tbaynes@kerrtarcog.org
|
