Sep 29 2005

DeMint, Graham & Wilson Announce EDA Grant

Washington, D.C. – Today, Senators Jim DeMint and Lindsey Graham and Congressman Joe Wilson announced a $500,000 grant from the Economic Development Administration for the May River Technology Park in the Town of Bluffton, South Carolina. The funding will allow for the construction of infrastructure in the development of the Technology Park and is the final step towards getting the Technology Park underway. The South Carolina Department of Commerce, Palmetto Electric and Beaufort County have also contributed significant funding to the project. CareCore National, LLC plans to expand and create jobs in Bluffton and will serve as the anchor tenant in the technology park. CareCore has agreed to create 150 new jobs. The jobs to be created by CareCore LLC have an average minimum wage of $30,000/per year. CareCore has also agreed to contribute $2.8M toward the construction and equipment for Building One in the park and sign a 10-year lease purchase agreement. The CareCore National expansion will provide new projected payroll of approximately $5 million and will inject approximately $10 million in additional revenue into the South Carolina economy. “This is exciting news for Bluffton and the surrounding community,” said Senator Graham. “Ensuring we have the necessary infrastructure in place is a vital component of our economic development efforts. This investment will hopefully pay dividends for years to come.” “I am thrilled about this funding and the economic impact it will have in the Lowcountry,” said Congressman Wilson. “Bluffton families are now one step closer to having access to hundreds of new jobs, opportunities, and resources through the Technology Park.” “This project is critical to providing quality jobs to the people of the Lowcountry,” said Senator DeMint. “I congratulate the Mayor of Bluffton for his efforts to secure these funds.” “On behalf of Bluffton, we thank Senator DeMint, Senator Graham and Congressman Wilson for their advocacy and tenacity in helping bring federal funding to the May River Technology Park,” said Mayor Hank Johnston. “We are very pleased the US Department of Commerce has recognized the significant role the Technology Park will play in diversifying the region’s economy.” About the EDA The mission of the EDA is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy. The Economic Development Administration (EDA) was established under the Public Works and Economic Development Act of 1965 (42 U.S.C. § 3121), as amended, to generate jobs, help retain existing jobs, and stimulate industrial and commercial growth in economically distressed areas of the United States. EDA assistance is available to rural and urban areas of the Nation experiencing high unemployment, low income, or other severe economic distress. In fulfilling its mission, EDA is guided by the basic principle that distressed communities must be empowered to develop and implement their own economic development and revitalization strategies. Based on these locally- and regionally-developed priorities, EDA works in partnership with state and local governments, regional economic development districts, public and private nonprofit organizations, and Indian tribes. EDA helps distressed communities address problems associated with long-term economic distress, as well as sudden and severe economic dislocations including recovering from the economic impacts of natural disasters, the closure of military installations and other Federal facilities, changing trade patterns, and the depletion of natural resources. ###