Economic & Community Development
The First Tennessee Development District provides economic and community development services to its communities. Through grant writing, the District assists communities in obtaining funds. Since 1989, the District has assisted communities with funding of 486 grant and loan projects in the amount of $148.6 million. For the 2010 fiscal year, the District assisted communities with 25 projects totaling $7.2 million.
Economic Development
The District has completed several economic development grant applications on behalf of municipalities and counties in order to provide job opportunities. An economic development infrastructure project involves the interaction of several persons, including a mayor or county mayor, economic development professional, funding agency representative, company representative, and engineer.
Infrastructure funding programs include the Appalachian Regional Commission (ARC), the Economic Development Administration (EDA), Environmental Protection Agency (EPA), Rural Development (RD), Fast Track Infrastructure Development Program (FIDP), State Energy Loan Program (SELP) and the Tennessee Department of Transportation (TDOT).
The following economic development projects were funded during the past year:
| Community | Project (Job Creating Entity) | Source |
|---|---|---|
| Bristol | Access Road (Bristol Metals) | TDOT |
| First UD - Hawkins | Telemetry Equipment & Installation (Hutchinson) | EDA |
| Mosheim | Water System Upgrade (Appalachian Forest Products) | ARC |
| Jonesborough | Wastewater Outfall Line (Koyo) | ARC |
| Int'l Storytelling Ctr | Outdoor Amphitheatre | ARC |
Community Development
The District has completed several community development grant applications on behalf of municipalities and counties. Community infrastructure programs include the Tennessee Small Cities Community Development Block Grants (CDBG), Tennessee Department of Environment and Conservation (TDEC), Transportation Enhancement Act (TE), Local Parks Recreation Fund (LPRF), Recreation Trails Program (RTP), Tennessee Recreation Initiative Program (TRIP), Special Technical Assistance Grant (STAG) Tennessee Department of Agriculture (TDOA), and Energy Efficiency Community Block Grant (EECBG).
The following community development projects were funded during the past year:
| Community | Project | Source |
|---|---|---|
| Surgoinsville | Sewer Line Extension to Schools | CDBG |
| Unicoi Co. | Sewer Line Extension to Evergreen Community | CDBG |
| Washington Co. | Water Line Extension to Bulldog Miller Road | CDBG |
| Cold Springs UD | Water System Improvements | ARC |
| Sneedville | Sewer Line Rehab | ARC |
| Hancock Co. | Treadway Water Line Extension | ARC |
| Baileyton | WWTP Energy Efficiency Upgrade | EECBG |
| Carter Co. | HVAC Retrofits | EECBG |
| Erwin | Building Energy Efficiency Upgrade | EECBG |
| Greene Co. | Building Energy Efficiency Upgrade | EECBG |
| Greeneville | HVAC & Lighting Upgrade | EECBG |
| Mount Carmel | WWTP Energy Efficiency Upgrade | EECBG |
| Mountain City | Street Light Replacement | EECBG |
| Rogersville | Energy Efficient Pump Ugrade at WTP & WWTP | EECBG |
| Sneedville | WWTP Upgrade | EECBG |
| Surgoinsville | Building Energy Efficiency Upgrade | EECBG |
| Watauga | Building Energy Efficiency Upgrade | EECBG |
Comprehensive Economic Development Strategy (CEDS)
Administrative Services
Receiving funding is always good news to a community; however, administrative guidelines of grant programs must be followed to make the project a reality. These administrative services include completing environmental reviews, assisting with the bidding process, organizing requests for payment applications, assisting with acquisition, complying with labor standards, and completing the project close out. During the past year, the District provided administrative services for forty-seven projects.
Economic Development Financing
The non-profit lending corporation of the First Tennessee Development District is the Northeast Tennessee Economic Development Corporation (NETEDC). The purpose of NETEDC is to promote economic development through loan programs to businesses. A Revolving Loan Fund (RLF) was established in 1990 with funds from the Economic Development Administration and State of Tennessee. A Business Development Loan Fund (BDLF) was established in 1994 with funds from Rural Development (RD) and the State of Tennessee. NETEDC established the Johnson City Downtown Redevelopment Loan Program in 2006 with funding from eight banks.
The programs help businesses through fixed asset and permanent working capital financing. Through the loan programs, 74 companies have received funding of $5.7 million. These companies have created 682 jobs to date. During the past year, the NETEDC made two (2) loans totaling $175,000. Communities where business loans have been made in past year include: Johnson City (1) and Sullivan County (1).
The Board of Directors and Loan Committee of the NETEDC review loan projects and implement loan programs.
Board of Directors
Russell Brackins - NETEDC Chairman
Steve Mears - Capital Bank
Paul C. Monk - Clinchfield Federal Credit Union
Jerry O’Connor - Impact Plastics
Tom Olterman - TVA
Doug Price - The Citizens Bank of East Tennessee
Susan Reid - First Tennessee Development District
Alan Spritzer, Ph.D - ETSU, College of Business
Rick Storey - Citizens Bank, Tri-Cities
Loan Committee
Ben Berry - SunTrust Bank
Bobby Brown - Mountain Commerce Bank
Jonathan Davis - Peoples Bank
Mike Eddy - Eddy & Eddy CPAs
Michael C. Hill - Citizens Bank, Tri-Cities
Robert Justice, Ph.D - ETSU, Small Business Development Center
Ken Rea - First Tennessee Development District
Robert Williams - Peoples Bank
