NEWS: Delta Regional Authority, state, local partners invest $3 million in Western Kentucky economySeptember 22, 2015
FRANKFORT, Ky. – The Delta Regional Authority and its partners are investing nearly $3 million in federal, state, and local resources to support small business owners and entrepreneurs, workers and their families by improving economic development, workforce training, and job creation in western Kentucky, Delta Regional Authority Federal Co-Chairman Chris Masingill and Governor Steve Beshear announced today.
“The DRA is excited to announce another year of investing into the people, small businesses, and infrastructure that make western Kentucky a great place to live,” Chairman Masingill said. “These investments strategically leverage funding for projects that will help to address the health, training, and public service needs of our communities while driving economic development and growing small businesses and entrepreneurs.”
The six new investments, including a new business incubator, the reopening of a health clinic and other investments in the region’s health and safety system, and infrastructure improvements that support economic development, leverage $1 million in DRA resources into nearly $3 million in total public investment for western Kentucky communities, their residents, and their economies.
These investments are expected to help create and retain 227 jobs for local residents, develop 200 entrepreneurs and business owners, and ensure 80 families have safe and clean water and sewer services.
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The investments are mostly 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, and small business and entrepreneurship, and health access projects in the 252 counties and parishes of the eight-state Delta region. DRA coordinates directly with Kentucky’s three area 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.
“The Delta Regional Authority plays an integral role in supporting projects in our western Kentucky communities that will boost both short-term and long-term economic growth and development,” Gov. Beshear said. “I want to thank Chairman Masingill and the DRA for their commitment to Kentucky and making significant investments that will positively impact the future of our citizens and the entire region.”
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 western Kentucky.
“Communities need varied, well-planned investments in order to grow and thrive,” said Department for Local Government Commissioner Tony Wilder, DRA board designee for Governor Beshear. “These DRA investments are focused on projects that will benefit Kentucky’s infrastructure, economy and workforce – improvements that will have a lasting impact on their communities. Thank you to the DRA for their continued support of Kentucky business, families and communities.”
2015 SEDAP Projects
- Todd County Health Department Renovation Project, Elkton: Structural renovations to the health department building to improve services offered and make into a premier healthcare, health information, delivery, and regulatory agency within Todd County. DRA Investment: $100,000; Leveraged Public Investment: $55,500.
- 911 Center Upgrade Project, Henderson: A regional venture to upgrade and replace the Henderson 911 center's CAD software, records management system, and mobile & mapping/fire record system that serve the populations of Crittenden, Henderson, and Union counties. DRA Investment: $200,000; Leveraged Public Investment: $900,000.
- HFCRA Crane Replacement Project, Hickman: The Hickman-Fulton County Riverport Authority will replace the 40-year old American 9720 port crane, which was taken out of service in November 2014 after a boom failure accident, to allow barges to once again unload at the port (1 job to be created and 10 jobs to be retained). DRA Investment: $150,000; Leveraged Public Investment: $808,081.
- Madisonville Innovation Station, Madisonville: Creation of an innovation and entrepreneurial center that will foster small business growth and provide a culture in which new concepts and ideas will be enhanced—the capstone of an entrepreneurial development program initiated four years ago by the Madisonville-Hopkins County Economic Development Corporation, City of Madisonville, and the Hopkins County Fiscal Court (60 jobs to be created and retained, 200 entrepreneurs and business owners to be trained). DRA Investment: $150,000; Leveraged Public Investment: $258,000.
- Ag Center Lift Station Upgrade, Greenville: Upgrade of the undersized lift station located at the Ag. Center to include an electrical upgrade from 2 phase to 3 phase power, a generator, new electrical components, new larger pumps, and new pump rails as well as minor upgrades to the access road and new fencing to limit public access to the completed lift station (16 jobs to be created, 135 jobs to be retained, and 80 households to be affected). DRA Investment: $87,223; Leveraged Public Investment: $110,058.
- Hickman Medical Clinic Reopening, Hickman: Acquisition and renovations to the recently closed Hickman Medical Clinic to prepare for recruitment of new provider to re-open the clinic and bring back much-needed health care services to Fulton County residents (5 jobs to be retained). DRA Investment: $337,223 Leveraged Public Investment: $12,777.
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.