Community Economic Revitalization Board Invests More Than $10M to Spur Growth, Jobs

In an effort to fuel business growth and job creation in Adams, Snohomish, and Spokane counties, the Washington State Community Economic Revitalization Board has greenlit $8.75 million in low-interest loans and $1.35 million in grants for economic development and public-infrastructure improvements.

The projects to receive funding include, according to a release:

Adams County: $3.75 million loan and $1.25 million grant to the Port of Othello for the Bruce Water Tower Construction project. The project will build a 200,000-gallon water tower with infrastructure upgrades to create a looped water system that connects an additional 105 acres of the Bruce Industrial Park to the existing system. The Port’s Committed Private Partner, Progresso Farms LLC, is investing $20 million in the project, and it expects to create and retain 72 jobs. CERB funds are matched by $1.25 million in local resources.
Snohomish County: $5 million loan to the Port of Everett for the Millwright Loop Road Phase 2 project. This project will build roads, sidewalks, parking, and underground utility infrastructure for the second phase of the Waterfront Place development. The Port’s committed private partner, LPC West, Inc., is investing $90 million in the projects, and expects to create 113 jobs. CERB funds are matched by about $16.2 million in local resources.
Snohomish County: $50,000 grant to the City of Lake Stevens for the Lake Stevens Industrial Center Infrastructure Design project, and the development of a conceptual engineering design for sewer and stormwater improvements within the Lake Stevens Industrial Center. CERB funds are matched by $12,500 in local resources.
Spokane County: $50,000 grant to the City of Spokane for a feasibility study on the development of a creative economy hub. This study will focus on the development of a creative economy hub, including business incubation and acceleration in downtown Spokane. CERB funds are matched by $45,000 in local resources.

The release of CERB funds to these projects is contingent on each applicant completing specific pre-contract requirements, like finalizing other funding sources and obtaining necessary permits.