Hattiesburg, Miss. (November 6, 2019) — Cooperative Energy, together with the 11 Member distribution cooperatives it serves, announced today the award of a Cooperative Competes grant to assist strategic development of commercial property in the City of Diamondhead.
The $25,000 Cooperative Competes grant will match the City of Diamondhead’s funds for master planning and environmental due diligence of property adjacent to Interstate 10. The city hopes opening new property for development will provide residents and visitors with additional options for lodging, restaurants, office space, entertainment, greenspace, and residential living.
“Diamondhead city leaders are making great strides in planning for commercial development, and we are always willing to partner towards economic growth in our communities,” said Ron Barnes, president and CEO of Coast Electric.
Cooperative Energy President Jeff Bowman said the Cooperative strives to foster economic growth in the communities served by its Member distribution cooperatives. “Cooperative Energy’s economic development efforts, in partnership with our Member systems, ultimately support a better quality of life across the state. Through our Cooperative Competes program, we enable the development of industrial, commercial, agricultural, and distribution centers, which in turn leads to job creation or job retention for many of the Mississippians served from the Delta to the Gulf Coast.”
The Cooperative Competes initiative, aimed at increasing product and community competitiveness, was unveiled in early 2019. A component of the initiative allows economic development organizations, or the recognized authority, to apply for grant funds to offset industrial property development costs. These funds are provided jointly by Cooperative Energy’s 11 Member distribution cooperatives. Eligible uses include industrial site preparation, environmental due diligence studies, a portion of the local match for Mississippi Development Authority’s Site Development Grant Program, or other property development needs. A local funding match is typically required for Cooperative Competes grants.
For more information about Cooperative Energy’s Cooperative Competes initiative, visit www.cooperativeenergy.com/economic-development-cooperative-competes/
About Cooperative Energy
Cooperative Energy generates and transmits electricity to 11 Member-owned electric distribution cooperatives. Known as the Power of 12, Cooperative Energy and its Member cooperatives work together to provide safe, reliable and affordable power from the Mississippi Delta to the Coast. The 11 electric cooperatives own and maintain more than 57,000 miles of distribution lines and provide service to approximately 432,000 homes and businesses throughout 55 counties.