NEWS: Delta Regional Authority, state and local partners invest $10 million into Missouri BootheelNovember 04, 2015
CLARKSDALE, Miss. – The Delta Regional Authority and its partners are investing more than $10 million in federal, state, and local resources to support small business owners and entrepreneurs, workers and their families, and local communities by improving economic development, workforce training, and job creation in southeast Missouri’s Delta region, Delta Regional Authority Federal Co-Chairman Chris Masingill and Governor Jay Nixon announced today.
“The DRA is excited to announce another year of investing into the people, small businesses, and infrastructure that make the Missouri Bootheel a great place to create jobs, grow businesses, and raise a family,” Chairman Masingill said. “These investments strategically leverage funding for projects that will help to address the infrastructure, training, and public service needs of our communities while driving economic development and growing small businesses and entrepreneurs.”
The five new investments, including renovation of a manufacturing training center, expansion of entrepreneurship support services, and infrastructure improvements that support economic development, leverage nearly $900,000 in DRA resources into more than $10 million in total public and private investment for southeast Missouri’s Delta communities, their residents, and their economies.
“These investments directly support the economic and community development efforts of communities in the Missouri Bootheel and will help our state and region be stronger and more attractive to businesses and people looking to locate or stay in Missouri,” said Bill Ransdall, Community Development Specialist for Missouri Department of Economic Development and DRA board designee for Governor Jay Nixon. “The DRA is a strong partner in advancing Governor Nixon’s economic development goals for our state.”
These investments are expected to help create and retain 579 jobs for local residents and train 100 residents for jobs in their communities.
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The investments are made through the DRA States’ Economic Development Assistance Program, the agency’s main federal funding program that invests in basic public infrastructure, transportation infrastructure, workforce development, small business and entrepreneurship, and health access projects in the 252 counties and parishes of the eight-state Delta region. DRA coordinates directly with Missouri’s five regional planning commissions in the region for program funding implementation.
DRA leadership works closely with the governor of each state and his board designee to identify projects to receive SEDAP investments, which are aligned with state economic development goals. These federal investments require a minimal investment of state funds that can bring a large return in DRA and other agency funding and result in a great economic impact for the Delta region of Missouri.
2015 SEDAP INVESTMENTS
1. Second Floor Renovation of OzSBI, West Plains: Restoration of 9,180 square feet of the second floor of the Ozarks Small Business Incubator (OzSBI) into workspace and larger offices for clients with up to 15 employees, including seven to ten new offices, four restrooms, a meeting room, utility room, mechanical rooms, and circulation (29 jobs to be created and 53 jobs to be retained). DRA Investment: $150,000; Leveraged Public Investment: $921,450; Private Capital Investment: $1,000,000.
2. Industrial Park Road Overpass, Poplar Bluff: Construction of a viaduct over the railroad tracks that cross the Poplar Bluff Industrial Park Road. The 2-lane concrete road will include an approach of earthen fill dirt and a 135-foot single-span bridge (50 jobs to be created and 384 jobs to be retained). DRA Investment: $106,149; Leveraged Public Investment: $2,617,302; Private Capital Investment: $1,420,000.
3. County Road 346 Improvements, Cape Girardeau: Improvements, widening, and paving of County Road 346 and 347 for improved safety and road conditions to allow Capitol Sand Company to expand and add a second shift (25 jobs to be created and 30 jobs to be retained). DRA Investment: $200,000; Leveraged Public Investment: $1,254,138; Private Capital Investment: $600,000.
4. St. James Industrial Park Infrastructure, St. James: Infrastructure improvements and access road expansion in the St. James Industrial Park to assist with the major expansion of Cohen Architectural Woodworking (8 jobs to be created). DRA Investment: $206,060; Leveraged Public Investment: $93,357; Private Capital Investment: $820,000.
5. Advanced Manufacturing Training Center, West Plains: Rehabilitation and renovation of an existing 16,000 square-foot building owned by the City of West Plains to be converted into a new advanced manufacturing training center to bring shop/lab training and classroom instructional opportunities to high school graduates from regional high schools and dislocated workers (100 people to be trained). DRA Investment: $225,746; Leveraged Public Investment: $599,502.
About the Delta Regional Authority
The Delta Regional Authority is a federal-state partnership created by Congress in 2000 to help create jobs, build communities, and improve lives through strategic investments in economic development in 252 counties and parishes across eight states. Through the past thirteen investment cycles of the DRA’s States Economic Development Assistance Program, DRA investments have leveraged $2.7 billion in other public and private investment into projects that are helping to create and retain 42,000 jobs, train 13,000 for a 21st century workforce, and provide more than 82,000 families access to clean water and sewer services. Learn more at dra.gov.