ECD Announces $3,494,465 In Grants For Tennessee Communities
State’s FastTrack Program Supports Job Growth NASHVILLE – Governor Phil Bredesen and Economic and Community Development (ECD) Commissioner Matthew Kisber have announced the approval of a $3,494,465 FastTrack Infrastructure Development Program (FIDP) grant for nine Tennessee communities. The funding will assist in infrastructure improvements for Tennessee companies across the state.
‘The world of business is ever-changing and the FastTrack program provides Tennessee communities a helping hand to change with it,’ said Governor Bredesen. ‘We are proud to be able to provide this funding and, in doing so, provide more Tennesseans with higher-paying, better skilled jobs. This program builds more than just infrastructure improvements for these communities and companies, it builds improvements for community growth.’
Tennessee communities apply for FastTrack Infrastructure funding in order to better prepare themselves with the infrastructure necessary to be better homes for companies. The following list the most recent recipient communities and the grant amounts to each of them.
Coffee County, $145,960
Development Corporation of Knox County, $41,898
City of Dyersburg, $137,670
East Tennessee State University Research Foundation, $227,240
Metro Nashville Airport Authority, $750,000
Town of Mt. Pleasant, $415,540
Town of New Tazewell, $750,000
City of Oak Ridge, $276,157
Tellico Reservoir Development Agency, $750,000
“Tennessee is striving to become a better home for businesses and we are continuing to see the results of those efforts,” said Kisber. “We are happy to assist Tennessee communities with projects that equate jobs. Many of our communities are taking advantage of the FastTrack program and are reaping the benefits everyday.”
The FastTrack Infrastructure Development Program (FIDP), formerly the Tennessee Industrial Infrastructure Program, or TIIPs, was authorized by the Tennessee General Assembly in 1988. The program is administered by ECD. FIDP funds are used for infrastructure improvements, job specific workforce training or other economic development projects for Tennessee industry.
These grants were approved by the ECD Loan and Grant Committee following an application by the local county or city.
