Source: Pearl River Valley Electric Association
Wiggins, Miss.– Pearl River Valley Electric Power Association, together with our wholesale power provider, Cooperative Energy, announced today the award of a Cooperative Competes grant to the Stone County Economic Development Partnership.
The $25,000 Cooperative Competes grant will aid in site preparation and existing building upgrades on the former General Dynamics campus in McHenry. The 640-acre and seven-building campus has largely sat vacant since General Dynamics ceased operations in 2012. The Cooperative Competes grant will help rehabilitate the vacant buildings for state-of-the-art research and manufacturing.
In September, solid rocket fuel innovator Adranos announced plans to locate rocket motor research and development operations to McHenry. As part of its relocation to Mississippi, Adranos will make a $525,000 corporate investment and plans to create 20 new jobs.
The attraction of Adranos to the area will breathe new life into the property and kick start further growth of the region. Pearl River Valley Electric and Cooperative Energy have been champions for economic development of the region for years. Together with the Stone County Economic Development Partnership, the companies collaborate to develop new ways to attract investment and foster growth.
“When we work together to bring industry to Mississippi, we all win,” said Pearl River Valley Electric General Manager Randy Wallace. “The high-quality jobs that are being created by Adranos will help produce opportunities not only for Stone County and our service territory but all of Mississippi.”
Mitch Stringer, director of economic development for Cooperative Energy, says he is encouraged to see the Cooperative Competes initiative implemented as intended. “The initiative represents a commitment to continue fostering growth within our Members’ service territories and helping attract new investment from companies like Adranos,” said Stringer.
In addition to the Cooperative Competes grant, the Mississippi Development Authority is providing grant assistance for site improvements and Stone County is providing in-kind services to address site and building maintenance needs. The Stone County Economic Development Partnership is also participating financially to assist Adranos with the rehabilitation of the McHenry buildings.
For more information about Cooperative Competes, visit www.cooperativeenergy.com/economic-development-cooperative-competes/
Pearl River Valley Electric is a member-owned, not-for-profit cooperative that distributes electricity to more than 51,000 members in 12-counties in central and south Mississippi. It is headquartered in Columbia and has offices in Hattiesburg, Purvis and Wiggins.
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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.