Archive for Wednesday, August 25, 2010

Edwardsville company receives recovery zone bonds

August 25, 2010

Earp Meat Co., the new distribution facility that broke ground in May in the Edwardsville Industrial Park, was awarded $10 million in Recovery Zone Facility Bonds. The Kansas Department of Commerce allocated a total of $92.3 million in Recovery Zone Facility Bonds.

In addition, Wyandotte County received $10.795 million in Recovery Zone Economic Development Bonds for street and sewer improvements. This comes from a total $13.845 million allocated to three public projects.

These are two new types of bonds created by the American Recovery and Reinvestment Act to help economically distressed areas. Recovery Zone Facility Bonds are intended to encourage investment in privately owned or used projects. These bonds are federally tax-exempt, which can provide the beneficiary with a lower cost of capital.

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