Delta Regional Authority Announces $1.7 Million Investment into Tennessee CommunitiesFebruary 22, 2022
DRA’s investment will improve basic public infrastructure, business development, and job training to support economic development in communities across West Tennessee.
CLARKSDALE, MS – Delta Regional Authority (DRA) today announced a $1,740,869 investment that will boost economic development and improve the quality of life for West Tennessee communities and residents. The investment will be matched by $4.7 million and will attract an additional $12 million in leveraged private investment (LPI) into Tennessee.
The five new investment projects will improve water and sewer systems, support business development, and support job training in communities across West Tennessee. These projects are expected to create or retain 638 jobs and train 65 individuals.
“Born and raised along the Mississippi River, I know firsthand how vital the Delta Regional Authority’s ability to bolster community revitalization and economic prosperity within the Delta and Alabama Black Belt is,” said DRA Alternate Federal Co-Chairwoman Leslie Durham. “By strategically investing federal dollars into physical and human infrastructure, DRA helps alleviate the critical needs of the region in order to improve quality of life for our residents and foster future growth. I want to thank Governor Lee and the Tennessee Congressional Delegation for their continued partnership as we work to level the playing field for our citizens.”
Funding for these projects is provided by the States’ Economic Development Assistance Program (SEDAP), which provides direct investment into community-based and regional projects to support basic public infrastructure, transportation infrastructure, workforce training and education, and small businesses development with an emphasis on entrepreneurship. DRA coordinates directly with the Office of the Governor for the State of Tennessee and local development districts in the state for program funding implementation.
Tennessee: FY 2021 Investment Snapshot
- Number of Projects: 5
- DRA Investment: $1,740,869
- Total Project Investment: $6,528,166
- Additional Capital Investment: $12,000,000
- Jobs Created: 597
- Jobs Retained: 41
- Individuals Trained: 65
”As our state continues to experience significant growth, these strategic investments will help improve infrastructure, spur innovation and bring more high-quality jobs to West Tennessee,” said Gov. Bill Lee. “I thank the Delta Regional Authority for their continued partnership and strong support of our communities.”
“As Tennessee’s former Economic and Community Development Commissioner and now as U.S. Senator, I’ve seen firsthand the far-reaching positive impact of job creation and business growth for individuals, for entire regions, and across the state,” said Senator Bill Hagerty. “A good job solves so many other issues that confront American families, and as these grants enhance our communities, they support critical job creation for West Tennesseans.”
“This funding for physical and safety improvements in Binghampton is a smart investment and will ultimately result in good-paying jobs. I am pleased to see the Delta Regional Authority supporting the Memphis economy and jobs,” said Congressman Steve Cohen (TN-09).
The following projects were funded by SEDAP:
BDC Business Hub | Memphis, TN: The Binghampton Development Corporation will use DRA funds to install a fire sprinkler system into an 82,000 square foot warehouse that will be used to launch a job training program to prepare residents for careers in the logistics industry. This investment is projected to train 25 individuals.
DRA Investment: $250,000
Total Investment: $2,400,000
City of Henderson Water Line Extension Project | Henderson, TN: The City of Henderson will use DRA funds to extend city water lines and add three fire hydrants to provide much needed fire protection to businesses and residents of the west side of Highway 45.
DRA Investment: $200,000
Total Investment: $216,562
Project Tiger | Lexington, TN: The Lexington Industrial Development Board will use DRA funds to construct a 55,200 square foot building expansion for a new company to produce heat transfer products. This investment is projected to create 120 jobs.
DRA Investment: $815,869
Total Investment: $815,869
Additional Capital Investment: $5,000,000
Timberlake Industrial Park Water Storage Tank | Lexington, TN: The City of Lexington will use DRA funds to construct a 750,000-gallon elevated water storage tank to increase volume of available water and provide reserve water for fire suppression.
DRA Investment: $300,000
Total Investment: $1,594,000
Hydro-Gear Retention Ponds - Huntingdon | Huntingdon, TN: The Huntingdon Industrial Development Board will use DRA funds to construct two stormwater basins to accommodate additional roadwork and parking at the new Hydro-Gear factory. This investment is projected to create 375 jobs and retain one job.
DRA Investment: $175,000
Total Investment: $175,000
Additional Capital Investment: $7,000,000
About the Delta Regional Authority
The Delta Regional Authority (DRA) is a federal-state partnership created by Congress in 2000 to promote and encourage the economic development of the lower Mississippi River Delta region and Alabama Black Belt. DRA invests in projects supporting transportation infrastructure, basic public infrastructure, workforce training, and business development. DRA’s mission is to help create jobs, build communities, and improve the lives of those who reside in the 252 counties and parishes of the eight-state region.
DRA Media Contact: