Winfield Included in Development Grants
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Winfield Included in Development Grants
By Shane Gilreath
Governor Bill Lee and the Tennessee Department of Economic and Community Development (TNECD) announced last week that Winfield would be included in six new site development grants totaling more than $6 million.
“TNECD’s Site Development Program is vital to attracting economic development opportunities in our local communities,” TNECD’s Commission, Stuart McWhorter, said last week. “Just last month, we announced a major project on one of our state’s certified sites – proof that having shovel-ready industrial sites gives Tennessee a competitive edge – and we’re excited that seven more communities are now moving closer to earning this valuable certification.”
Winfield’s involvement consists of $100,000 to be used at the Winfield Industrial Park and has been listed as Due Diligence. A due diligence grant with TDECD involves a process where grant recipients are evaluated to ensure eligibility and suitability for funding and ensures that projects are aligned with the grantmaker’s mission and priorities ahead of funding. According to TDECD, this process is crucial for increasing the chances of receiving a grant or formalizing partnerships. TDECD emphasizes the importance of understanding how to prepare for and successfully complete a due diligence exercise to enhance the likelihood of successful grant applications. Site development grants are part of the Rural Economic Opportunity Act, which provides funding to enhance the economies of Tennessee’s rural communities, and are designed to assist communities with investing in infrastructure and developing improvements to projects that could build economic growth.
“What happens in rural Tennessee matters to all of Tennessee, and today’s grant announcement makrs another step forward in creating greater economic opportunity across our state,” said Governor Lee. “I thank our local leaders for their partnership to drive growth in their communities that will in turn attract future investment and job creation.”
Other areas who were awarded grants include Bartlett, Livingston, Milan, Knox County, and Morgan County.
Applications were reviewed by an advisory committee made up of TNECD, Austin Consulting, the Tennessee Valley Authority, the Tennessee Department of Environment and Conservation, and the Tennessee Department of Transportation. Each application was supported by state senators and representatives.
