The Point industrial park to receive $3 million grant
Feb 23, 2012 -
By David Malloy
Published: February 23, 2012
The Point industrial park has been awarded a nearly $3 million grant from the Economic Development Administration to build a rail spur, according to the office of U.S. Rep. Bill Johnson, R-Ohio.
Economic development officials were notified Wednesday that the federal agency has approved a grant for $2,935,839 as part of a $5,871,678 project to develop the rail spur, said Bill Dingus, executive director of the Lawrence Economic Development Corporation. That agency is overseeing development at the industrial park in South Point.
The project could create up to 186 jobs as part of $11.3 million in private investment in the industrial park, according to Johnson's office.
"We applied for this more than a year ago," Dingus said Wednesday. "It's great news for further development of The Point."
The project calls for three miles of railroad tracks to be built along the Ohio River adjacent to the Norfolk Southern railroad tracks, said Jeremy Clay, director at The Point.
"Our hope is that we can start the project this fall," Clay said. "It should take about eight months to build the railroad spur. If everything does well, it should be ready by August or September of 2013."
"This is great news for Lawrence County and Southeastern Ohio," Johnson said in a prepared release. Johnson toured the industrial park with Dingus "and saw the economic potential of this facility firsthand. This collaboration of public and private financing will create an estimated 186 new jobs and will allow The Point Industrial Park to connect to a major rail line and lead to further economic growth in the area."