Grants and loans for economic development in rural Georgia

By: Associated Press
By: Associated Press

ATLANTA (AP) — Officials say about $8 million in grants and loans will be flowing to economic development projects in rural Georgia.

Gov. Nathan Deal and members of the OneGeorgia Authority Board approved the awards in a meeting Tuesday.

Deal said he hopes the funds will spur job creation in communities hardest-hit by the recession.

The board approved nine Economic Development Growth and Expansion awards worth $2.5 million. They are projected to create more than 1,300 jobs and retain another 1,075.

Also approved were 11 equity fund awards totaling $5.5 million. The fund assists communities and regions in building infrastructure needed to support economic development.

The OneGeorgia Authority was created with about one-third of the state's tobacco settlement to assist Georgia's most economically challenged areas.

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