| |
7th District legislators pleased Republic
PDA will receive state revitalization financing
Industrial park aimed at
bringing new, good-paying jobs to region
Seventh District
legislators said today they are very pleased that Republic will get
needed financial assistance for a light industrial park to bring new,
family-wage jobs to Ferry County.
According to
Sen. Bob Morton,
R-Kettle Falls, even before the recession, Ferry County’s unemployment
rate was higher than the statewide average.
“We need this
infusion to diversify our job base and put people back to work,” Morton
said.
The Republic Public Development Authority has been awarded
a $260,000 loan and a $20,000 grant for the reconstruction of a 6,000
square-foot steel metal framed building and associated infrastructure to
support future industrial development.
The money is provided by
the Community Economic Revitalization Board within the state Department
of Community, Trade and Economic Development.
The loan is zero
interest for 20 years and has a five-year deferral of payment. CERB gets
its funding through state bonds, loan repayments and interest earnings
on its account and the public works account.
“This industrial
park is vital,”
Rep. Joel Kretz, R-Wauconda, said. “The decline in timber,
mining and ranching activities has had an impact on small businesses
around our district. We need ways to rebuild our economy and create
jobs. The industrial park would be one way to accomplish this goal.”
The Republic Torboy Industrial Park received initial funding of
$50,000 from CERB for the feasibility study. The Republic PDA will
provide at least $164,400 of in-kind support for the project.
Rep.
Shelly Short, R-Addy, praised the project as important to
the county’s economic recovery.
“We need a concerted effort to
create jobs in today’s tough economic climate,” Short said. “Sometimes
things pick up on their own and sometimes they do not. A hand up in
tough times gives us hope that things are going to get better.”
The CERB money will fund engineering, foundation and excavation work,
reconstruction of the building, a sewage treatment system, electrical
and plumbing work related to a water system and pump house, and road
work.
# # #
For more information, contact:
Bobbi Cussins, Public Information Officer: (360) 786-7252
|
|