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Knoxville Business News Tennessee Mountain Scenery Background
June 26, 2024 | Katelyn Keenehan

TNECD announces investments into several rural business communities

15 new Site Development Grant recipients received funds totaling over $17 million.

Last week, Tennessee Governor Bill Lee and Tennessee Economic and Community Development Commissioner Stuart C. McWhorter announced 15 new Site Development Grant recipients, with grants totaling more than $17 million. These grants aim to support infrastructure and engineering improvements, aiding economic development and achieving Select Tennessee site certification.

Governor Lee emphasized the importance of rural Tennessee to the state, highlighting significant investments in the rural skilled workforce and the creation of high-quality jobs through the Site Development grant program. The program, part of the Rural Economic Opportunity Act, has awarded nearly $100 million since 2016, generating 7,011 new jobs.

Commissioner McWhorter noted the importance of economic growth in rural regions across Tennessee and expressed gratitude to those involved in securing the grants.

“From Memphis to Mountain City, Tennessee has so many rural communities,” said McWhorter. “Economic growth in our rural regions is vital to our future, and I’m grateful to all involved for helping make this round of grants happen.”

East Tennessee Recipients:

  • City of Crossville – Interchange Business Park, $4,523,950 – Speculative building construction
  • McMinn County Government – Athens McMinn Innovation Park, $984,752 – Access road construction
  • Morgan County Economic Development Board – Darnell Property, $100,000 – Due diligence

The largest investment was in Crossville, for more than $4.5 million. The second-highest investment was in Lawrence County for the Joint Economic and Community Development Board, sitting at just $4 million for the installment of water, sewer, natural gas, and electrical infrastructure for the Lawrenceburg Industrial Park.

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