REDLANDS, CA - Bob Lemley, president of the Inland Regional Economic Development Corp. announced the successful funding of a $2.95 million CED project in the city of Coachella in Riverside County. Both projects will be funded by the U.S. Department of Commerce, Economic Development Administration.

The Coachella investment will be part of a total project cost of $3,869,385, and will facilitate the creation of 104 jobs when the build-out of the 190 acres is complete. This project also will generate $10 million of private sector investment in the area.

The Inland Regional Economic Development Corporation was founded in 2006 to meet the needs of under-served communities in the Inland Empire. The U.S. Department of Commerce, in conjunction with the Economic Development Administration, encourages the local formation of committees to identify the economic and social needs of underserved communities. The purpose of these committees is to define and coordinate economic development objectives within these communities.

The document defining this activity is called a comprehensive economic Development Strategy (CEDS). Further, the goals of the CEDS is developing plans and strategic projects that will improve the identified local economies through business development, creating substantial jobs with the goal of alleviating all elements of economic distress within these communities.

Areas currently qualifying are the cities of San Bernardino, Hesperia, Coachella, Banning, the unincorporated areas of Mecca, and the former March, Norton and George air bases in both San Bernardino and Riverside counties. The EDA seeks partnership investments that stimulate jobs in economically disadvantaged areas buy assisting with infrastructure projects. Access to the funds must come through approval by a CEDS committee.

"We're really pleased to add the Coachella project to the others we have completed this year, our first year of operation." stated Sheb Elawar, Board chairman of the Inland Regional Development Corp. "We have more in the works and are looking for good projects to on the former bases, and in the city of San Bernardino, now."

Contact: Bob Lemley - Phone: 951-323-1507

posted at http://www.inlandempire.us/news/2007/07/inland-regional-economic-development_30.html