The City of Chillicothe is a recipient of an Industrial Site Development Grant. The Missouri Department of Economic Development has awarded the city $2,500,000.
The program is focused on helping communities develop shovel-ready industrial sites to support business expansion and attraction.
Parson announced on May 5th that the Department of Economic Development has awarded $75 million through the Industrial Site Development Grant Program for 15 projects across the state.
The program was launched in December. It has awarded competitive grants to communities to fund costs related to the establishment and expansion of industrial sites. Of the $75 million available, $50 million was reserved for sites that are 1,000 acres or larger. Twenty-five million dollars was reserved for sites smaller than 1,000 acres. The program will help develop 9,700 acres of industrial use.
The grants required local investment, and state grant funds could represent no more than 50% of the total project cost. Local match investment sources could include American Rescue Plan Act funds, private investment, and other local funds.
The Industrial Site Development Grant Program is funded through ARPA and is part of Governor Mike Parson’s fiscal year 2023 budget plan.
