Northern Nevada projects win state economic funds
The first seven Nevada Economic Development Fund grants grants totaling $1.7 million have been awarded by the Nevada Commission on Economic Development.
The grants are designed to help rural Nevada communities and blighted urban areas remain economically viable.
A total of 25 applicants prepared 32 different requests totaling more than $9 million nearly three times the $3.5 million available in the grant program.
Once matching dollars were included, the $9.1 million in requests would have supported projects totaling more than $21 million.
Members of the Commission on Economic Development chose projects that they felt provided a foundation for further development, says Kimberly Elliott, marketing manager at the Nevada Commission on Economic Development.
Preference went to projects with the most amount of independent funding.
The Northern Nevada Development Authority received $360,000 for the Rural Regional Incubator Project.
The total project costs are $535,000, and 33 percent of the funding will come from other sources.
Carlin was awarded $386,000 for Carlin Industrial Park Improvements. The total project will cost nearly $1.5 million and 74 percent of funding for the project is leveraged from other sources.
The Humboldt Development Authority got $10,000 for the Humboldt County Workforce Attraction Project. The total project costs are $25,000 and 60 percent of its funding is coming from other sources.
The Humboldt Development Authority got $60,000 for the land purchase for a rail spur into the Winnemucca Airport Industrial Park. The entire project cost will be $77,500 with 23 percent of the costs coming from other sources.
In central Nevada, Ely/White Pine Historical Railroad Foundation in White Pine County received $309,770 for Northern Nevada Railroad Renovation. Forty percent of the total project costs of $516,283 will come from other sources.
In southern Nevada, Caliente won $300,000 for engineering and construction of a rail siding transloading facility serving the Meadow Valley Industrial Park. The total project will cost $2.5 million and 88 percent of the total costs are leveraged from other sources.
The Board of Lincoln County Commissioners was awarded $280,000 for the Alamo Industrial Park Land Acquisition. The entire project cost is $570,000 with 54 percent coming from other sources.
Three other grant applications will be reviewed by the Commission on Oct. 18. The City of West Wendover, White Pine County and Northern Nevada Development Authority will further elaborate on their requests in hopes of winning the $1.2 million yet to be allocated.
The regional building and population boom continues to favorably impact operations at Northern Nevada financial institutions. The thousands of new residents moving to the Truckee Meadows need to finance homes or new businesses, and all regional bankers really need to do is just put on a catcher’s mitt to snag the flow of business from people and companies moving in from California.