U.S. Senator Lamar Alexander (R-Tenn.) today announced that the FY2008 Financial Services appropriations bill, which was approved by the Senate Appropriations Committee, includes funding for two economic development initiatives in Tennessee.
“These federal dollars will help Tennessee become a leader in keeping our nation’s competitive edge,” said Alexander, a member of the Senate Appropriations Committee. “These funds also will boost the number of innovative entrepreneurs in Hamilton County and lead to more jobs in southeast Tennessee.”
Tennessee funding in the bill includes:
$250,000 for the Pellissippi Centre on the Oak Ridge Corridor to continue efforts to develop a research and development capability. This project will match funds from the local community to offset startup costs as well as surveying, geotechnical and engineering fees.
$250,000 for the Center for Entrepreneurial Growth at Enterprise South Industrial Park in Hamilton County. The center will work with the Chamber of Commerce, Tennessee Valley Authority (TVA), Chattanooga State, and University of Tennessee Chattanooga (UTC) to develop enterprises that will result in new jobs and economic growth.
The legislation must now be considered and approved by the full United States Senate.