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Governor Gregoire Announces Investments to Boost Job and Economic Growth

For Immediate Release: October 15, 2007

OLYMPIA � Governor Chris Gregoire today announced $2,810,000 in public investments to create new jobs and boost economic growth across Washington.

�In today�s global economy, infrastructure is the foundation for economic growth and is especially critical to many rural communities,� said Governor Gregoire. �These loans provide vital support for these projects, which will create new family-wage jobs and help grow the local economy in each of these counties.�

In Cowlitz County, the Washington Community Economic Revitalization Board (CERB) approved a $1,000,000 loan to assist the Port of Longview with engineering and construction costs for a new dock. The dock will support the new facility of Export Grain Terminal Development, LLC, and an estimated 50 new full-time jobs at wages exceeding the average annual Cowlitz County wage. Total public support for the development is $10,423,639.

In Kittitas County, CERB approved $1,000,000 in loan and grant financing to help the Ellensburg Business Development Authority construct a 15,000 square foot light industrial building and undergo site improvements, which will provide space for approximately 50 to 75 future employees. Total public support for the development is $1,250,000.

In Yakima County, CERB approved $810,000 in loan and grant financing to assist the Port of Sunnyside in the construction of infrastructure improvements to the Port�s Edison Avenue Industrial Park. The Port projects 58 full-time jobs will be created by future business developments. Total public support for the development is $1,785,000.

�The CERB Program is designed to respond to emergent business development needs for public infrastructure and provide long-range feasibility planning to help communities plan for future business development,� said Tom Trulove, CERB Chair.

�Our role is to be responsive to local needs by making timely and smart investment decisions,� said Juli Wilkerson, Director of the State Department of Community, Trade and Economic Development (CTED). �The CERB Board has a proven track record for being a good steward of public money and advocate for local communities.�

The release of CERB funds to these projects is contingent upon each applicant completing specific pre-contract requirements, such as finalizing other funding sources and obtaining the necessary permits.

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