Washington DC, 13 August 2022 (TDI): The city of Craig received an award worth $3.3 million Economic Development Administration EDA assistance to Coal Communities Grant. It is for the construction of the Yampa River Corridor Project.
Craig has been awarded a $3.3M @US_EDA Assistance to Coal Communities Grant for construction of the Yampa River Corridor Project. https://t.co/4yqR11WlBj
— U.S. Commerce Dept. (@CommerceGov) August 12, 2022
After the closing of the coalfields and energy station, Craig and Moffat County’s economy needed to be stabilized and diversified. As a consequence, an inter-development process involving regional organizations resulted in the corridor project.
Especially, in order to complete the initiative, the town and district worked together to get this federal financing. This will improve the town’s hydration system and provide new tourist attractions along the riverbank.
The EDA will cover about 70% of the construction expenditures of Craig project, which were anticipated to be $4.6 million a year.
Melanie Kilpatrick, project manager for the Yampa River Corridor, stated that inflation is the biggest risk for the project. This has had an impact on previous projects over time. However, Match partners have agreed to finance the remaining portion of the project.
Project Abstraction
As per a 2006 study in Durango, Whitewater activity reportedly created 33 job opportunities. It generated $1 million in yearly sales from tourists.
Moreover, A whitewater park in Cascade, Idaho, was believed to earn $8.2 million in 2009 calculated by The University of Idaho.
Additionally, In Truckee, Nevada, a whitewater park estimated yearly financial prosperity between $1.9 million and $4.1 million.
The initiative also aligns with Craig’s grand plan for parks, leisure, open space, and routes, based on a statement from Kilpatrick.
In addition, the Moffat County Vision 2025 Transition Plan, also incorporates proactive measures to aid the neighborhood’s shift away from a coal-based industry.
The town and municipality are also contributing large sums of money apart from the award by the federal assistance. The county will also provide $150,000 and the municipality will contribute $658,656.
The City Manager Peter Brixius commented, “Construction prices have been jumping quickly.”
He also added, “The price increases would not surprise anyone who has thought about a small remodel or landscaping project on their home. It’s important that we get this done now. We can lock in our prices, start work in and around the river, and begin seeing the benefits of our planning.”
