The Department of Economic Development (DED) announced today that it has awarded a total of $75 million through the Industrial Site Development Grant Program for 15 projects across the state. The program, funded through the American Rescue Plan Act (ARPA), is focused on helping communities develop shovel-ready industrial sites to support business expansion and attraction.
“Strengthening our state’s economy through business attraction and growth remains a top priority of our administration,” said Governor Mike Parson. “Through the Industrial Site Development Grant Program, we’re continuing to promote Missouri’s economic prosperity by delivering the infrastructure and resources that companies need to thrive. We look forward to the benefits this program will provide for businesses and communities statewide.”
The Industrial Site Development Grant Program was launched in December 2022. The program awarded competitive grants to communities to fund costs related to the establishment and expansion of industrial sites. Of $75 million available, $50 million was reserved for sites that are 1,000 acres or larger, while $25 million was reserved for sites smaller than 1,000 acres. In total, the program will help develop 9,700 acres for industrial use.
“Development-ready sites are vital to attracting employers that make a positive difference for Missourians,” said Maggie Kost, Acting Director of the Department of Economic Development. “To grow our economy, it’s important to stand out to businesses by providing what they need to invest and expand. This program represents our commitment to creating opportunities through strategic investments in Missouri’s future.”
“This program is awarding funds to a variety of communities, large and small, all across our state,” said Shad Burner, Director of Federal Initiatives for the Department of Economic Development. “Whether for a city, county, or port authority, having industrial sites ready for businesses is absolutely critical to growth. We’re excited to support local economies through grant awards that are helping establish foundations for success.”
Details on recipients of the Industrial Site Development Grant Program are available here.
To learn more about DED’s ARPA-funded grant programs, visit ded.mo.gov/arpa.
About the Missouri Department of Economic Development
The Missouri Department of Economic Development (DED) works to create an environment that encourages economic growth by supporting Missouri’s businesses and diverse industries, strengthening our communities, developing a talented and skilled workforce, and maintaining a high quality of life. As one team built around the customer and driven by data, DED aspires to be the best economic development department in the Midwest. Through its various initiatives, DED is helping create opportunities for Missourians to prosper.
For the latest updates on DED’s current or future programs and initiatives, visit DED’s website.