ARIZONA COMMERCE AUTHORITY OPENS SECOND ROUND OF ITS ANNUAL RURAL ECONOMIC DEVELOPMENT GRANT
PHOENIX, AZ (January 21, 2014) — The Arizona Commerce Authority (ACA) today announced the second round of its Rural Economic Development Grant (REDG), an annual $2-million competitive grant focused on improving infrastructure that will attract high-wage industry to Arizona’s rural communities. This is the third year for the REDG.
“Improving key infrastructure in our rural areas spurs private-sector job creation and capital investment by better positioning these communities to attract new projects, as well as retain local employers that are seeking to expand current operations,” said Sandra Watson, President and CEO, Arizona Commerce Authority. “Rural grants encourage collaboration between businesses and rural communities to leverage capital investment for planned infrastructure development. These joint projects address base industry employer needs while strengthening local economies for long-term growth.”
The ACA will be accepting second round grant applications from eligible rural communities and Native American Tribes from now until February 28, 2014. Awardees will demonstrate the most immediate potential to create new quality jobs, retain existing quality jobs and stimulate private capital investment.
For round one, the ACA awarded grants in December 2013 to Prescott Valley and Coolidge to assist with critical infrastructure improvements and enhance competitiveness in these communities.
“As a grant recipient, Prescott Valley will be able to move forward with the development of its Enterprise Parkway Connector Road, which is expected to generate several million dollars in new capital investment and more than 100 new jobs within 18 months of its completion,” said Gary Marks, Executive Director, Prescott Valley Economic Development Foundation. “The project will connect State Highway 69 to our Big Sky Business Park providing direct access for seven major employers, improve transportation routing for existing distribution center operations, and make it possible for the development of new commercial sites within the business park.”
“The award to Coolidge couldn’t have come at a better time since a major local employer, Stinger Bridge and Iron, was contemplating an expansion or potential move. The grant funding provided a tremendous advantage to keeping the company and its 120 jobs in the city,” said Rick Miller, Growth Management Director, City of Coolidge. “The ACA grant, coupled with a financial commitment from Stinger and Coolidge, provides the necessary funding to complete a critical commerce park road improvement at one of the city’s major employment centers. As a result, Stinger will build a larger 125,000-square-foot steel girder fabrication facility in Coolidge with an anticipated capital investment of $4.5 million and 20-30 additional jobs.”
Joseph Valdez, Arizona Commerce Authority, (602) 845-1234, email@example.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.