Friday, April 27, 2007
Contact: Jessica Robinson, 573-751-0290
Blunt Announces DREAM City Washington Business Approved for New Economic Development Tool
WASHINGTON– Gov. Matt Blunt today announced that the Bank of Washington has been approved to receive $43,708 in Brownfield Redevelopment tax credits to help create 45 new jobs and retain 55 with an estimated total payroll of $1.8 million.
Washington is one the inaugural cities in Blunt's Downtown Revitalization and Economic Assistance for Missouri (DREAM) initiative.
"This assistance will help revitalize downtown Washington and most importantly, create new jobs for Missourians," Blunt said. "Our DREAM initiative is helping other Missouri communities achieve the same results. The pro-jobs, pro-growth initiatives we are advocating in my administration have helped Missourians create more than 93,000 new jobs since January 2005 with enhanced economic opportunities for all."
The Brownfield Redevelopment Program provides financial incentives for the redevelopment of commercial/industrial sites that are contaminated with hazardous substances and have been abandoned or underutilized for at least three years.
Blunt unveiled his DREAM initiative in 2006 to help Missouri communities navigate through various community and economic development assistance programs to help transform their downtown areas in to centers of job creation.