Rural Economic Development Infrastructure Investment Program
Goal of Island County's Rural County Economic Development Infrastructure Investment Program is to improve the economy of Island County by creating and retaining ongoing private sector jobs. To achieve this, the program offers grants to local governments with qualifying proposals to assist in financing the cost of public facilities that will assist businesses in creating and retaining jobs. The sales taxes used to support this program comes from a rebate back to Island County of Washington state's share 6.5% of sales-and-use taxes authorized by RCW 82.14.370, and therefore does not increase the tax to the consumer.
Objectives of this program include:
- Assisting in financing public facilities that will stimulate private capital investments which benefit the community and public at large and will increase the number of ongoing, family wage jobs available to local residents.
- Retain businesses and/or facilitate the expansion of existing businesses within Island County.
- Attract new businesses to Island County that create family wage jobs.
- Support a stable and diversified local economy.
Funding is awarded through an annual grant process. Only local government agencies and port districts within Island County are eligible to submit applications. Local governments include the county, cities, port districts, water and sewer districts and other districts that may implement projects consistent with the objectives of this program.
Use of Rural County Economic Development funds is restricted by state law RCW 82.14.370(3)(a) and may only be used to finance public facilities serving economic development purposes in rural counties and finance personnel in economic development offices. Public facilities "… means bridges, roads, domestic and industrial water facilities, sanitary sewer facilities, earth stabilization, storm sewer facilities, railroads, electrical facilities, natural gas facilities, research, testing, training, and incubation facilities in innovation partnership zones designated under RCW 43.330.270, buildings, structures, telecommunications infrastructure, transportation infrastructure, or commercial infrastructure, and port facilities in the state of Washington." RCW 82.14.370(3)(c)
For more information, call Michael Jones at 360-679-7311 or email to email@example.com