ACA Awards $1.5 Million to Rural Communities
Rural Economic Development Grant Program helps create jobs, provide capital
PHOENIX, AZ (April 12, 2012) — The Arizona Commerce Authority awarded $1.5 million from the Rural Economic Development Grant Program to 8 communities which will be leveraged to create up to 180 new jobs which represent approximately $6.6 million in new payroll and nearly $10.5 million in new capital investment to the state. Grants range in value from $60,000 to $460,000, and will be used to assist rural communities foster economic development projects that represent job growth and capital investment in base industries.
“Our rural communities have always had the potential to foster technological development and job creation – but they haven’t always had the means to do so,” said Governor Jan Brewer. “I commend the Commerce Authority for recognizing the importance of rural economic development with these much-needed grants.”
“Arizona’s rural communities are an important facet to our statewide economy, and the ACA is committed to facilitating job creation in every corner of our state,” said Don Cardon, president and CEO of the Arizona Commerce Authority. “We understand these communities have limited budgets, and the ACA is pleased to provide them with resources to enhance their economic base.”
“This is the type of investment we need in rural Arizona. We need to bring jobs and development to areas other than the big cities,” said Senate President Steve Pierce. Arizona House of Representatives Speaker Andy Tobin applauded the ACA stating, “Rural Arizona has always had the potential to make impressive advancements in the development of emerging technologies. This generous grant from the ACA will help those communities continue to provide much needed jobs and new technology solutions while increasing the viability of Arizona’s rural industries.”
“I am proud to be part of the Governor and Legislature’s efforts to support business opportunities in Yuma,” said Senator Don Shooter. “By supporting these companies we encourage the business community to do what it does best – and that is to create jobs we need in Yuma and all of Arizona.”
Using the strong relationships the local communities have with their respective companies, the ACA solicited applications from and awarded grants to various cities or towns. The cities selected deserving companies for the awards.
The 8 grant recipients, and their selected projects include:
City of Flagstaff – $100,000
City of Yuma – $460,000
Flagstaff Chamber of Commerce – $95,000
Mountain Heart, LLC
Northern Arizona Center for Entrepreneurship and Technology – $60,000
Prescott Valley Economic Development Foundation – $304,302
Hot House Naturals
Bronze Smith Factory
Town of Payson – $300,000
Advanced Tactical Armament Concepts, Inc.
Valley Verde Wine Consortium – $124,000
Rhone Unlimited, LLC
Arizona Stronghold Vineyards
Yuma Chamber of Commerce – $60,000
This is the second year of ACA’s Rural Economic Development Grant program, which has been well received by the rural economic development community.
“As a rural economic development practitioner, the support from ACA to rural areas has taken a large step forward. The prospect activity over the past year in addition to the Rural Grant and other efforts has bolstered our ability to compete for job creation. I applaud ACA’s efforts to give the rural communities the opportunity,” said Gary Marks, executive director of the Prescott Valley Economic Development Foundation.
The ACA, along with a review committee, reviewed 49 proposals and determined the 8 recipients based on criteria including job creation, capital investment, project sustainability and cost effectiveness. The grants will be paid on a reimbursable basis, with each grantee submitting invoices for allowable costs. Each grantee must submit a monthly report to the ACA to ensure projects are progressing.
Nicole McTheny, Arizona Commerce Authority, (602) 8451-1231, email@example.com
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create – attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.