Economic Development

Supporting the Community through Economic Development

Coast Electric Power Association supports economic development in the communities it serves in two ways.

  1. Building infrastructure necessary to reliably support business and industry needs today and tomorrow.
  2. The cooperative works aggressively to match prospective economic development projects with U.S. Department of Agriculture rural development loans and grants.

USDA Rural Development Loans

The purpose of the U.S. Department of Agriculture Rural Economic Development (RED) Loan and Grant program is to leverage private and other public funding to expand the economic base of rural communities. The RED loan program provides loans to local utilities which in turn pass through the loans to local businesses for projects that will create and retain employment in the areas Coast Electric serves

As designated rural communities, Harrison, Hancock and Pearl River counties are eligible to benefit from the federal funding.

CEPA Fund Revolving Loan Program

As a result of many years of successful local economic development projects through the Rural Economic Development Grant program, Coast Electric Power now has another funding mechanism to support local government and municipalities’ economic development projects, the Coast Electric Fund Revolving Loan Program.

The purpose of the Revolving Loan Program is not to compete with local lending institutions, rather it is the intent of the program to stimulate private investments and complement local lenders for the creation of jobs and wealth in Harrison, Hancock and Pearl River counties. Projects to be considered for this program must create or retain employment or provide needed community facilities and services. These types of projects include industrial/commercial development, community infrastructure, community facilities, medical facilities, and training/educational facilities. Each project must meet certain criteria before a project will be considered eligible for funding from the CEPA Fund Revolving Loan Program.

Applications will be received and reviewed during designated funding round time periods, which typically occur semi-annually. For more information on the revolving loan fund or the Rural Development Loans contact Russ Carothers at (228) 363-7278 or russcarothers@coastepa.com.

Guy Johnson,
Vice President of Economic Development
(228) 363-7329Russ Carothers
Key Accounts Executive
(228) 363-7278

Links

Hancock County Development Commission

Harrison County Development Commission

Partners for Pearl River County

Location One – A searchable economic development database where businesses can research buildings, sites and locations in states across the country.

Sites Across America – A powerful network for siting and expanding businesses

sitesacrossamerica