Arizona Commerce Authority Announces First Round Recipients of Annual Rural Economic Development Grant

Grants designed to assist rural communities with critical infrastructure improvements to enhance competitiveness for attracting base industry employers

 

PHOENIX, AZ (December 5, 2013)  The Arizona Commerce Authority (ACA) today announced that the Town of Prescott Valley and City of Coolidge are recipients of this round of its annual Rural Economic Development Grant (REDG), which is a $2-million competitive grant program focused on improving infrastructure that will attract high-wage industry to Arizona’s rural communities.

 

“Rural grants are among a suite of ACA programs and services focused on advancing economic development throughout Arizona and will assist rural communities in developing and completing their planned infrastructure projects, which will strengthen their capacity and competitiveness for economic growth,” said Sandra Watson, President and CEO, Arizona Commerce Authority. “Aligning the infrastructure of our rural communities with the needs of businesses is a strategic, long-term approach for generating private sector job creation and capital investment in base industries statewide.”

 

The Town of Prescott Valley will receive a grant of $500,000 that will assist the town with its Enterprise Parkway connector road project. The Town, with private industry partners, is contributing $2,472,894 toward the project. The completed road will connect Big Sky Business Park to State Highway 69 providing a direct transportation connection for nine existing businesses located within the business park, as well as opening access to additional sites for new development.

 

The City of Coolidge will receive a grant of $369,156 that will assist the city with its Randolph Road improvement project.  The City, with a private industry partner, will contribute $515,687 toward the project. Randolph Road is planned to be an industrial collector street and is part of the initial phase of a one-mile roadway improvement that will provide paved access to a larger industrial corridor and major employment center serving the city and Pinal County. The project will involve paving the industrial collector road extending from State Route 87 east to the Union Pacific Railroad.

 

The ACA will be awarding this year’s Rural Economic Development Grants to eligible rural communities and Native American Tribes in two rounds. Round one is complete.  Applications for the second round will be accepted in January 2014 and awarded thereafter. Awardees will demonstrate the most immediate potential to create new quality jobs, retain existing quality jobs and stimulate private capital investment.

 

“This is a collaborative effort between rural community leaders, private industry partners and the ACA to combine and leverage funds for infrastructure development that will help create and retain quality jobs for Arizonans,” said Keith Watkins, Senior Vice President, Economic/Rural Development, Arizona Commerce Authority. “Improving infrastructure enhances the marketability of our rural communities and serves as a catalyst for business attraction and continued economic development.”

 

This is the third year for the ACA’s Rural Economic Development Grant. In 2013, the ACA awarded a total of $1.5 million to seven projects; in 2012, the ACA awarded a total of $1.5 million to eight.

 

Media Contact:

Joseph Valdez, Arizona Commerce Authority, (602 845-1234, josephv@azcommerce.com

 

About the Arizona Commerce Authority

The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create – attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.