Tennessee Invests Over $17 Million in Site Development Grants for 11 Communities
Governor Bill Lee and Tennessee Department of Economic and Community Development (TNECD) Commissioner Stuart C. McWhorter have announced a significant investment aimed at boosting economic readiness across the state. Eleven communities are set to receive more than $17 million through the latest round of Site Development Grants. This funding is specifically allocated to help these areas enhance infrastructure, conduct necessary engineering work, and make industrial sites more attractive and prepared for potential business relocation and expansion, ultimately aiding in achieving crucial site certification.
Part of the broader Rural Economic Opportunity Act initiatives, the Site Development Grant program plays a vital role in fostering growth, particularly in rural Tennessee. Officials highlighted that having sites ready for immediate development is often a deciding factor for companies considering where to invest. The program's history demonstrates its impact, with 191 grants totaling nearly $100 million awarded statewide since 2016, contributing to the creation of over 7,000 jobs for Tennesseans. The newly announced grants will support diverse projects ranging from property clearing, grading, and infrastructure improvements like roads and sewer lines, to due diligence studies and the construction of speculative buildings.
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