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May 8 – Congressman Zach Wamp announced that the Appalachian Electric Cooperative (AEC) in New Market will receive an economic development grant from the USDA Rural Economic Development Loan and Grant Program. The funds will be used by the Grainger County Industrial Board to construct a new 10,000-square-foot industrial building in the Grainger County Industrial Park.
“East Tennessee communities continue to create jobs and build our manufacturing base even in the midst of an economic downturn,” said Congressman Wamp. “This grant opens doors and provides new opportunities for small businesses to invest in Grainger County.”
As partners in economic development, the Grainger County Industrial Board and the city of Rutledge will contribute additional funds to the project and are recruiting a manufacturing company to create new jobs in the county.
“This is an exciting day for Grainger County. Douglas-Cherokee Economic Authority, Inc. and the Grainger County Industrial Board already have a very good prospect for the building that was anticipated when Appalachian Electric Cooperative submitted the application months ago; in fact, it’s an expansion of an existing industry that will create 30 very good jobs,” said Grainger County Industrial Board Chairman Ray McElhaney. “We greatly appreciate Rural Development and Appalachian Electric Cooperative for their work to create jobs in Grainger County.”
“Appalachian Electric Cooperative, along with the Grainger County Industrial Development Board and the City of Rutledge, are partnering once again to improve the economy and attract more jobs into Grainger County. This is the second time in a decade that the partnership between the three entities has produced grant monies to lay the foundation for additional job creation in Grainger County,” said Appalachian Electric Cooperative Manager Bill Underwood. “Our appreciation is expressed to Congressman Zach Wamp whose continuing efforts to improve the economy and job market for Grainger County were key in obtaining the grant.”
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