Tennessee Gov. Phil Bredesen and Economic and Community Development (ECD) Commissioner Matthew Kisber recently announced the approval of a $75,000 FastTrack Infrastructure Development Program (FIDP) grant for the city of Pulaski to assist in infrastructure improvements for Valley Packaging Corp., a manufacturer of packaging products and Frito-Lay, Inc., a manufacturer of convenience foods.
“The FastTrack program continues to be an efficient tool for economic growth in our Tennessee communities,” said Bredesen.
The City of Pulaski grant will be used to assist Valley Packaging Corp. and Frito-Lay, Inc. with site improvements at their facility in Pulaski. Funding for the $8,122,750 project will include $8,047,750 in company funds. The project will provide 55 new jobs for Giles County.
The FastTrack Infrastructure Development Program (FIDP), formerly the Tennessee Industrial Infrastructure Program, or TIIPs, was authorized by the Tennessee General Assembly in 1988. The program is administered by ECD, and FIDP funds are used for infrastructure improvements, job specific work force training or other economic development projects for Tennessee industry.
The grant was approved by the ECD Loan & Grant Committee.
