The Missouri Department of Economic Development has awarded $75 million for shovel-ready industrial site development projects throughout the state.
A total of 15 projects received grant funding. The Port Authority of Kansas City was awarded $40 million, the largest amount. Independence and Montgomery County each received the second largest amount of $5 million.
The grants are part of the Industrial Site Development Grant Program, a state program funded by the American Rescue Plan Act and designed to help communities develop industrial sites to support business expansion and attraction.
The American Rescue Plan Act is a piece of federal legislation that provides economic assistance to state and local governments affected by the COVID-19 pandemic. Missouri received about $2.7 billion in State Fiscal Recovery Funds.
Recipients are eligible to use the grant money on costs related to expansion, renovation or new construction projects, according to a program summary. The funding can also cover costs such as legal fees, permits and maintenance.
Of the $75 million available, $50 million was allocated to industrial sites 1,000 acres or larger, while the rest went to sites smaller than 1,000 acres. The program will help develop 9,700 acres for industrial use, according to a news release.
The maximum award available for sites smaller than 1,000 acres is $5 million, while sites over 1,000 acres have no maximum amount listed.
The cities and entities that received funding are:
Recipients receiving federal COVID-19 relief funding for industrial site projects
|Marion Ralls Regional Port Authority||$837,766|
|Port Authority of Kansas City||$40,000,000|
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