NEWS: Delta Regional Authority invests $350,000 into creating Greater Memphis manufacturing jobsDecember 07, 2016
Delta Regional Authority and partners invest more than $350,000 into accelerating the creation of manufacturing jobs across Greater Memphis area
Resources establish Metro Memphis Export Alliance
DRA Chairman Masingill: “Investment rewards hard work, innovation, and community collaboration.”
MEMPHIS, TN – Workers and businesses across the greater Memphis area will receive a major investment into the creation of good-paying manufacturing jobs – to the tune of more than $350,000 – Delta Regional Authority Federal Co-Chairman Chris Masingill announced today.
The DRA, together with the U.S. Economic Development Administration, will specifically invest $155,000 to accelerate the expansion of the Metro Memphis Export Alliance, an organization focused on driving exports and supporting and attracting new manufacturing jobs. The project will receive additional funding from state, local, and private sources.
“This investment rewards hard work, innovation, and community collaboration – qualities at the core of the people and businesses across the Delta region,” DRA Chairman Masingill said. “This investment will open new markets to businesses that are well positioned to export, but have not yet taken their businesses to larger markets. It will strengthen our entire region’s manufacturing sector and continue to boost the Delta’s economic competitiveness.”
The new investment is part of the Investing in Manufacturing Communities Partnership (IMCP), an Administration-wide initiative focusing on accelerating the resurgence of manufacturing and creating good-paying jobs in regions across the country. This ongoing initiative is designed to reward communities for best practices in economic development planning and attracting new jobs and investment in manufacturing.
“We look forward to working with the Delta Regional Authority on this important project to expand export opportunities and create new jobs,” Tennessee Department of Economic and Community Development Commissioner Randy Boyd said. “We have partnered with the DRA on ten other projects this year that will create over 300 jobs, and this initiative will benefit businesses across the region and lead to more job creation in the future.”
“For nearly 16 years, Delta Regional Authority and its partners have played a role in providing job opportunities for hardworking West Tennesseans,” said U.S. Senator Bob Corker. “I am pleased this investment will advance our state’s economy, and I applaud DRA’s commitment to expanding the manufacturing industry in Tennessee.”
U.S. Senator Lamar Alexander said, “I’m pleased the Delta Regional Authority and the U.S. Economic Development Administration are awarding $155,000 in federal funding to help establish and expand the Metro Memphis Export Alliance, an organization focused on helping create more opportunities for business in the Memphis area. This is good news for West Tennessee and the entire eight-state delta region.”
U.S. Representative Steve Cohen said, “I am pleased that Delta Regional Authority and its partners are investing in the creation of good-paying manufacturing jobs in Memphis to help grow our economy. These new jobs will help make the Memphis area more competitive in the manufacturing sector, attracting new economic investments to the Delta Region.”
The greater Memphis community, the 28th largest export market in the country with a total merchandise power reaching more than $11 billion, was designated as an IMCP community in July 2015. The greater Memphis area has nearly 1,000 manufacturing establishments, of which many have never been exposed to export training or opportunities.
About the Delta Regional Authority
The Delta Regional Authority is a federal-state partnership created by Congress in 2000 to help create jobs, build communities, and improve lives through strategic investments in economic development in 252 counties and parishes across eight states. To date, the DRA’s SEDAP investments, together with its state and local partners, have leveraged $138 million in federal resources into more than $2.9 billion in public and private investment into local small business owners, entrepreneurs, workers, and infrastructure development projects. These investments have helped create or retain more than 26,000 jobs since the DRA was established. Learn more at dra.gov.
Media Contact: John Collins