Thanks to a Gem Grant of $22,000 and $50,000 awarded this fiscal year and last fiscal year respectively, Oneida County and the City of Malad were able to assist two businesses in making critical upgrades to power and water infrastructure.
The BRE team assisted cities and counties in finding funding for needed infrastructure projects through the Idaho Gem Grant. The Gem Grant is available to local governments of rural communities with populations of 10,000 or less and can be leveraged to plan and implement projects that create and retain jobs. Funds can also be used for community development projects, main street projects, housing and more.
BC Timbers, a company located in Malad that produces handcrafted trusses and pavilions for custom homes, was in need of upgraded power and equipment necessary for an expansion.
Additionally, Ace Hardware was looking to locate to a commercial building in Malad. However, it needed water infrastructure before proceeding.
That is where Molly Beseris, Executive Director of Four County Alliance of Southwest Idaho — and a Rural Economic Development Professional — stepped in.
Beseris worked in partnership with the City of Malad, Oneida County and both businesses to write and administer the Gem Grants.
With improvements in place, Beseris said both projects will have a major economic impact on the city and the county.
“According to an economic impact analysis, BC Timbers will net $1.5 million to the area in the first year,” Beseris said. “Additionally, Ace Hardware is anticipated to generate ten jobs, $220,147 in annual wages and $2.1 million in capital investment. These expansions will allow for higher sales, larger inventory and options that the community does not have locally.”
Learn more about the Idaho Gem Grant here. Read more stories from our annual report here.