The U.S. Financial Improvement Administration, a part of the U.S. Division of Commerce, introduced the Bowie Financial Improvement Company and Metropolis of Bowie will obtain a $1.4 million grant.
Janis Crawley, government director for the BEDC, was excited to report the grant receipt this week greater than a 12 months after the unique software was submitted.
The native entities will obtain $1,460,000 in Financial Adjustment Help-COVID 19-Restoration and Resiliency Tasks with an area funding of $365,000, offering a complete of $1,511,000 for infrastructure enhancements for the Bowie Enterprise Park.
Crawley mentioned they had been knowledgeable in August the grant was accredited pending all the ultimate legalities, and as September got here to an finish it was launched. The BEDC’s match has additionally been elevated to $300,000 from the 4A board and $300,000 from the 4B board, which she mentioned fulfills the unique grant software.
The mission will assemble a spec constructing throughout the park about 10,000 sq. ft in measurement, together with growing the dimensions of Gardner Highway adjoining to the park property.
“We wish to open up that space of the property as business heaps, after which construct the speculative constructing. That could be downsized considerably as a result of the price of building has doubled because the software was made. There may be not sufficient cash to do each, however I’m in negotiations with the EDA about that,” defined the director.
The pandemic and associated provide chain issues have triggered main will increase in constructing provides equivalent to plywood, but additionally there are shortages blamed on an array of points from employees shortages to firms attempting to return again after closing throughout the pandemic.
The grant software said this mission will assist the town rebound from the financial impression of the COVID 19 pandemic, in addition to an F-1 twister that struck the city in Might 2020.
“As soon as accomplished, the mission will generate employment alternatives and appeal to personal funding, which is able to strengthen the regional financial system and advance financial resiliency all through the area. The grantees estimate this funding will assist save eight jobs and leverage $800,000 in personal funding,” states the grant software.
The director mentioned a spec constructing is what everybody asks for, so if that’s out there they will fill it faster and get an organization going. Based on the grant the BEDC will personal the constructing for 20 years and will probably be out there for lease.
“Finally this provides us the instruments we have to end out the enterprise park so it’s full and engaging to business and industrial prospects. This grant is a unbelievable mission that pushes the park additional alongside. Opening that half up will give folks an understanding of the commercial aspect of the park. The Walters’ advanced is a good business property, however this constructing is give us a chance to draw major jobs, which is the final word aim of the BEDC, jobs that construct a neighborhood,” Crawley defined.
The Bowie Enterprise Park had its first grand opening for a enterprise in mid-September when Walters Land Surveying Firm LLC opened its not too long ago accomplished workplace advanced. The 5,300-square foot constructing encompasses two items below one room with the surveying agency in a single and the opposite 2,500-square foot unit out there for lease.
The Walters bought a two-acre tract within the park on the business aspect and started filth work in April 2020. Patrick Walters mentioned they’re more than happy with the way in which the items turned out and mentioned in the event that they get that one leased, they wish to construct extra places of work within the park. Crawley referred to as the opening of the Walters constructing a good way to provoke enterprise growth throughout the park.
The Bowie Enterprise Park was accomplished in late summer time of 2017 and is situated close to the intersection of U.S. Freeway 287 South and Farm-to-Market Highway 1125. Floor was damaged a 12 months earlier. The park was funded by the 4A financial growth gross sales tax and $1.5 million in income bonds by the BEDC.
Situated on 123 acres the park was constructed at $2.3 million providing what the BEDC group calls “Shovel-ready” constructing websites for business and business enterprise enlargement and retail alternatives.
The BEDC director mentioned they’ve accomplished a number of the preliminary paperwork and the $600,000 native match has been put right into a restricted account. Hayter Engineering has been employed to do the preliminary survey and research for Gardner Highway. Crawley mentioned they hope to exit for bids throughout the subsequent few weeks.