REXBURG, Idaho (KIFI) - Entrepreneurs in the tech market will have new support on the horizon. According to an announcement made by the U.S Department of Commerce the East Central Idaho Planning and Development Inc. (ECIPDA), a $4 million grant will go toward the building of a second building for the Teton River Business center.
The project has been in the works for two years now, and the grant is just the final piece of the puzzle.
Ted Hendricks, the economic development director for ECIPDA, says the project as a whole is collaborative effort.
"We have also worked with, the United States Department of Agriculture, Rural Development, and they too have funded this proposal all in with a grant in the amount of 1.25 million. We've also worked with the State of Idaho Department of Commerce, and they too have funded it with a half a million dollar grant to the City of Rexburg, with EA Scepter being the sub grantee. So it's about a $6.5 million project."
The project will be 20,000 sq ft., and two stories. It will be built in the empty lot next to the current Teton Business center building.
Hendricks says the building will help answer a large need in the tech market.
"There's a need to increase our technology based qualifications in our workforce and this center will help facilitate that. We have a very strong relationship with the College of Eastern Idaho. They're currently a tenant in our current business center here just next to us and have been since its inception. They have offered many programs up here in the Upper Valley to individuals who wanted to further their education and get experience to help in the employment market."
He says with the funding for the project secured the next step is to design and start construction.
"We anticipate we'll go through the selection process of hiring an architect and an architectural firm to help us with the design of the building. That process will probably take us close to 30 days. Once that architect is selected, we'll start the design of the facility, and that could take anywhere from 6 to 8 months, depending on how busy the firm is that we select to do the work."
After the design is approved the building will start construction sometime next year.