The Transportation Economic Development (TED) program is designed to help governments obtain money for highway improvement and public infrastructure projects. Here’s what you need to know about the program.
Governmental entities as defined by state law.
WHAT IT’S FOR:
The Transportation Economic Development (TED) program provides grant funding to governmental entities to assist with the costs of highway improvement and public infrastructure projects that create jobs and support economic development.
Projects must support one or more of the following industries: manufacturing, technology, warehousing and distribution, research and development, agricultural processing, bioscience, or tourism/recreation. Additionally, projects that support industrial park development or mixed-use/high-density multimodal developments are eligible.
TYPE OF FUNDING:
Up to 70% of eligible costs are awarded through grants. The maximum amount of funding for one project is $10 million. Matching funds from private funding sources are beneficial to the application proposal.
APPLICATION PROCESS AND DEADLINE:
Typically, solicitation announcements are distributed in late July each year. From that point until late September, applications can be completed and submitted. Awards are announced in December of each year, with funds becoming available after that.
In 2014 Widseth Smith Nolting helped International Falls receive funding through TED for a utilities project serving the city’s Multi Modal District. The installation of utilities and a rail spur led to the creation of many jobs in the district. Multi Modal Website
If you have a project that needs funding, contact one of Widseth Smith Nolting’s funding specialists today.