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OneGeorgia Authority Board Meeting
Wednesday, June 11, 2008; 1:30 p.m.– 3:30 p.m.
Ogeechee Technical College
One Joe Kennedy Blvd.
Statesboro, GA 30458
The OneGeorgia Authority, created by the Governor and the Legislature, utilizes one third of the state's tobacco settlement to assist the state's most economically challenged areas. $1.6 billion is anticipated to be available over the 25-year term of the settlement. OneGeorgia investments will be targeted towards rural communities.
The AirGeorgia (Airport Initiative in Rural Georgia) Fund will provide grants to integrate airport infrastructure improvements into OneGeorgia’s overall plan for rural economic development. AirGeorgia, targeted to the 49 Level I and Level II airports in rural Georgia, will accelerate a number of projects including runway extensions, installation of navigational aids, weather reporting stations and other projects deemed necessary to increase accessibility of Georgia’s rural airports and communities.
The BRIDGE (Broadband Rural Initiative to Develop Georgia’s Economy) Fund provides grants for publicly owned infrastructure based on the number of rural counties receiving new or enhanced high speed broadband services.
The EDGE (Economic Development, Growth and Expansion) Fund is utilized when one rural Georgia community competes for business location and/or expansion with another community from outside the state.
The Entrepreneur and Small Business Development Loan Guarantee (ESB) Fund provides new financial resources and opportunities for business development in Georgia’s at-risk areas by partnering with accredited Georgia financial institutions.
The Equity Fund provides financial assistance to rural communities to help build the necessary infrastructure for economic development. Equity funds are also available as loans for several different types of projects, such as constructing speculative buildings in order to attract additional industries to these regions.
The E-911 Fund is devoted to assist counties throughout Georgia in setting up E911 emergency telephone services.
The Strategic Industries Loan Fund is to provide loan assistance for the purchase of fixed assets to eligible applicants that are being considered as a relocation or expansion site for a emerging or development-stage company in a strategic industry targeted by Georgia.