BLOUNTVILLE, TN (WJHL) – The Tennessee Department of Transportation has awarded $4.1 million to the Tri-Cities Airport Authority to further develop the Aerospace Park.
The Airport Authority told News Channel 11 the purpose of the grant is to advance jobs creation and investment opportunities in the aerospace industry.
The grant will be combined with local funding and will contribute towards the completion of the site development. The ultimate goal: make the Aerospace Park more attractive to aerospace industry prospects.
According to TCAA Executive Director Patrick Wilson, partnerships with the local cities and counties will be a great return on investment for the region.
“The regional cooperation demonstrated by Bristol, TN, Johnson City, Kingsport, Sullivan County and Washington County helped set the Aerospace Park initiative apart from other projects,” said Wilson. “This regional partnership made it possible to attract such a large grant from TDOT.”
TCAA says it will use $8.5 million of funding from the city, $4.1 million from TDOT and a $350,000 grant from TVA for the next phase of development.
“The Aerospace Park is an important economic development project for our region, and we greatly appreciate the commitment Governor Haslam and TDOT Commissioner Schroer have made to its success through the award of this grant,” said Jon Smith, TCAA chairman.