NEWS: Delta Regional Authority invests nearly $100 million into the West Tennessee economyOctober 12, 2016
Delta Regional Authority leverages public, private investments to help grow economic opportunity in West Tennessee
NASHVILLE – Tennessee Governor Bill Haslam and Delta Regional Authority Federal Co-Chairman Chris Masingill, together with public and private partners, today announced nearly $100 million in new investments into strengthening infrastructure, supporting small businesses and entrepreneurs, and attracting new companies to West Tennessee. A full list of the investments is provided below.
The investments, a combination of the DRA’s 2016 economic development awards as well as state, local, and private resources, are expected to create and retain hundreds of local jobs, train workers, and support industries across the region.
“These investments help our region accomplish two critical goals: secure good-paying jobs today and make our part of the world more economically competitive in the future,” DRA Federal Co-Chairman Chris Masingill said. “We are making smart improvements to our region’s infrastructure and providing the workforce and technical training that small businesses need to grow. The future of West Tennessee is strong.”
“These funds will help empower communities to improve and grow, expanding services and programs to create more economic development opportunities, and leading us one step closer to our goal of making Tennessee the No. 1 location in the Southeast for high quality jobs,” Gov. Haslam said.
Number of Projects: 11
DRA Resources: $1,587,882
Leveraged Funds: $97,986,852
Total Investment: $99,574,734
“Over the past 16 years, Delta Regional Authority and its partners have improved countless lives by providing job opportunities for hardworking West Tennesseans,” said U.S. Senator Bob Corker. “I applaud DRA’s continued commitment to our state, and I am pleased this year’s investment of over $79 million will enhance infrastructure and help advance the Volunteer State’s economy by creating over 400 jobs and retaining over 1,600 jobs across eight cities.”
U.S. Sen. Lamar Alexander said, “I’m pleased the Delta Regional Authority is awarding over $1.5 million in federal funding to help create jobs in Tennessee. These grants will help fund critical infrastructure and boost economic development in our state. This is good news for Tennessee and the entire eight-state delta region.”
U.S. Representative Steve Cohen said, “I am pleased that Delta Regional Authority is investing in infrastructure improvements in West Tennessee to help grow economic opportunity for small businesses. These new projects will help create and retain jobs, support local industries, and spur economic growth in Memphis and around the region.”
2016 ECONOMIC DEVELOPMENT INVESTMENTS
- Martin, TN: Staging Area to Serve MTD Products: The proposed project includes the construction of a staging area for large trucks waiting to unload at MTD products in Martin, TN. The project will include adding more than 2,000 LF of road. The project will create 150 jobs while aiding in the retention of 1,000 jobs. Total Investment: $30,650,000. DRA Investment: $150,000. Other Public Resources: $500,000.
- Memphis, TN: South Main Artspace Lofts Project: The South Main Artspace Lofts is a mixed-use affordable live/work housing and commercial project for low-income families that will providing workforce and economic development to revitalize the area. Total Investment: $17,652,768. DRA Investment: $150,000. Other Public Investment: $17,502,768.
- Paris, TN: Offsite Storage to Serve Euro Tranciatura Project: The proposed project includes the construction of a storage facility to house rolled steel, large wire rolls, and other manufacturing materials delivered by rail. The project will create 150 jobs and retain 225 jobs. Total Investment: $12,842,000. DRA Investment: $150,000. Other Public Investment: $692,000.
- Camden, TN: Jones Plastic Expansion-Industrial Access Road: The proposed project will include the construction of an industrial access road serving the new expansion of the Jones Plastic Products site in Camden, TN. The project will create 25 new jobs and aid in the retention of 240 jobs. Total Investment: $3,525,000. DRA Investment: $150,000.00. Other Public Investment: $150,000.
- Tiptonville, TN: Riverine Fisheries of the Port of Cates Landing Project: The proposed project would include the addition of a pretreatment facility to eliminate waste from fish processing before entering the sewer system. The project will create 80 jobs while retaining 80 jobs. Total Investment: $9,990,000. DRA Investment: $80,000. Other Public Investment: $410,000.
- Benton County, TN: Western Branch Distribution Center Second Harvest Food Bank of Middle Tennessee: A food recovery and distribution center will be constructed and staffed on property in the Benton County Industrial Park, providing hunger relief and economic impact to nine DRA counties in Tennessee. The project will create 8 jobs while retaining 2 jobs. Total Investment: $3,752,700. DRA Investment: $150,000. Other Public Investment: $3,602,700.
- Henderson, TN: Inside Out Dad/Responsible Mom Program: The Inside Out Dad/Responsible Mom project is a jail program designed to aid inmates in learning parenting skills and assist in job placement once released. Total Investment: $43,063. DRA Investment: $38,063. Other Public Investment: $5,000.
- Hornbeak, TN: Hornbeak Emergency Operations Center: The proposed project includes the construction of an Emergency Response and Training Center. The building will be approximately 7,730 sq ft. Total Investment: $680,244. DRA Investment: $250,000. Other Public Investment: $430,244.
- Henderson, TN: Water Line Extension: The City of Henderson and Chester County proposed project will provide potable water to the Proctor Road area residents. This project would benefit 137 homes and 370 residents. Total Investment: $133,134. DRA Investment: $119,819. Other Public Resources: $13,315.
- Dyersburg, TN: Develey Mustard and Condiment Corporation: The project will provide water, sewer, and gas line materials for a construction project serving the Develey Mustard and Condiments Company. The industry will create 150 new jobs. Total Investment: $20,452,000. DRA Investment: $200,000. Leveraged Public and Private Investments: $20,252,000.
- Minority and Women-Owned Strategic Growth Services: Project continuation with supplemental funding to increase minority business participation in procurement opportunities across the Delta region. This project also provides virtual training resources. Total Investment: $203,825. DRA Investment: $150,000. Leveraged Public and Private Investments: $53,825.
The investments are primarily 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 Tennessee’s three planning and development districts 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 Tennessee.
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. To date, the DRA’s SEDAP investments, together with its state and local partners, have leveraged $138 million in federal resources into more than $2.9 billion in public and private investment into local small business owners, entrepreneurs, workers, and infrastructure development projects. These investments have helped create or retain more than 26,000 jobs since the DRA was established. Learn more at dra.gov.
Media Contact: John Collins