PONTOTOC — Sen. Thad Cochran (R-Miss.) announced that the Economic Development Administration is providing a $189,000 grant to assist the Three Rivers Planning and Development District (TRPDD) in developing and implementing a comprehensive economic development strategy.
The federal grant will support an overall $270,000 project to establish an economic development framework to support job creation and investment in Calhoun, Itawamba, Lafayette, Lee, Monroe, Pontotoc and Union counties, which are represented by the district.
The grant will be matched with $81,000 in non-federal funding. The grant will cover a three-year span to facilitate a continuous planning process. The federal funding derives from funding approved by Congress for the EDA in the FY2010 Commerce, Justice and Science Appropriations Bill.
In its application to the EDA, the TRPDD indicated that the grant would be an investment that is “market-based and results-driven in that it seeks to increase higher-skill, higher-wage jobs and private-sector investment in the region” by promoting a comprehensive economic development strategy that will “help TRPDD as it looks beyond the immediate economic horizon, anticipates economic changes and helps diversify the local and regional economies.”