Washington, D.C. — U.S. Rep. Bob Etheridge today announced that $1.7 million will be coming to Franklin County thanks to a new grant from the U.S. Economic Development Administration. The funding supports the construction of an access road to Triangle North Franklin business park. Local officials say the park could ultimately attract up to $74 million in private investment and create thousands of good jobs.
“Creating jobs is my number one priority,” said Etheridge. “This project supports both short-term and long-term job creation. People will be put to work and the access road will open up the Triangle North Franklin business park to attract high-tech, globally competitive companies.”
The grant is funded under the Economic Development Administration’s Community Trade Adjustment Assistance initiative, which is aimed at helping communities adjust to increasing competition in the global marketplace and create jobs to bolster the local economy.
“These funds will directly impact Triangle North Franklin, part of the regional network of Triangle North business parks, by providing assistance for the construction of an access road directly from U.S. Highway 401 into the park,” said Ronnie Goswick, Franklin County Economic Development director. “This access road will not only open up multiple business sites for development but also provide more direct access to the Triangle North Executive Airport.”
“Franklin County, in conjunction with the Kerr Tar Regional Economic Development Corporation, is thankful for the addition of these federal funds to help leverage both regional and local investments previously made for the Triangle North Franklin park,” said Franklin County Commission Chair Penny McGhee.
The Economic Development Administration serves as a venture capital resource to meet the economic development needs of communities throughout the United States. EDA's mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.
“Our economy must be rooted in innovation to compete globally,” said Etheridge. “Building up places like Triangle North Franklin creates jobs now and provides a solid economic foundation to build on in the future.”