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BREAKING NEWS: NCI gets $1.75M grant for building
Federal Economic Development Administration funds
Friday, March 29, 2013
By MICKEY POWELL - Bulletin Staff Writer
The New College Institute (NCI) on Friday was awarded a $1.75 million federal grant to use toward the construction of a new building in uptown Martinsville, according to a news release from 9th District U.S. Rep. Morgan Griffith.
The three-story, roughly 50,000-square-foot building, to be erected on the Baldwin Block, will house new programs being developed by NCI in advanced manufacturing, health care technology and entrepreneurism. It also will have administrative offices and space for public events.
“Congratulations to the New College Foundation and the city of Martinsville on securing this investment award,” Griffith stated in the release. “I applaud the efforts of those who worked to secure this funding, and my office was glad to be of assistance. I look forward to seeing its impact on folks seeking training in advanced manufacturing, healthcare, and entrepreneurship.”
The U.S. Economic Development Administration (EDA) grant includes funds for the new building’s construction and the purchase of state-of-the-art advanced manufacturing equipment.
Other contributions that NCI is receiving toward the building project include up to $8 million from The Harvest Foundation, $5 million from the Virginia Tobacco Indemnification and Community Revitalization Commission and $500,000 from the Appalachian Regional Commission.
NCI has applied to the state for a $700,000 Community Development Block Grant to use toward the construction of the building’s second floor, which will be the Center for Innovation and Entrepreneurship.
The lowest construction bid, which is being reviewed to ensure it reflects all of the institute’s needs for the building, was $13,289,000.
See this website and Sunday's Martinsville Bulletin for full coverage of this story.