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December 14, 2007

Alcoa Foundation Provides $250,000 Grant to Badin to Spur Economic Development, Downtown Revitalization

Alcoa Foundation Partners with NC Rural Economic Development Center to Deliver “Historic” Assistance to Badin

BADIN, N.C.--Efforts to spur economic development in Stanly County through the revitalization of downtown Badin received a major boost today with the announcement that Alcoa Foundation has awarded a $250,000 grant to benefit the town. The grant is being made through the N.C. Rural Economic Development Center, a highly respected organization that has a proven history of helping small towns across North Carolina jump start their economies.

“This is a historic day for the town of Badin. We have spent a lot of time talking about how to improve our economy and the Alcoa Foundation has now given us the wherewithal to turn those ideas into reality,” said Mayor Jim Harrison. “This grant is a true blessing. I want to express my gratitude to the Alcoa Foundation on behalf of everyone who lives here today and those who may live here tomorrow as a result of this grant.”

The grant, payable over two years, will build upon the town’s recent planning efforts and provide the financial resources necessary to implement critical revitalization projects.

“We look forward to working closely with the Town of Badin to implement a series of initiatives that will bring new businesses and new people downtown,” said Billy Ray Hall, president of the N.C. Rural Economic Development Center. “We’ve seen firsthand through our Small Towns Economic Prosperity Program the success that similar redevelopment projects have had across North Carolina and believe that Badin has tremendous potential to achieve its goals.”

The grant activity will focus on four key areas:
  • Planning and Coordination: The grant will support planning and coordination activities, including the hiring of a part-time employee to help implement revitalization and economic development efforts associated with this grant.
  • Physical Improvements: The grant will help fund enhancements to the appearance of downtown Badin through the development of new store facades, the addition of new trees and park benches, and other amenities.
  • Financial Seeds: The grant will provide financial incentives that can be used to help attract small businesses to downtown Badin.
  • Marketing & Promotion: The grant will support the promotion of community events and other activities that will increase visibility of Badin.


The goal is to strengthen the economic recovery by starting with these projects and adding new projects in the future.

“Alcoa and the Town of Badin have been linked together for nearly a century. It is an important community for our company, and I’m delighted that the Alcoa Foundation can provide this type of assistance to people of Badin. This grant has the potential to significantly improve our community,” said Tommy Gibson, an Alcoa community affairs manager.

ABOUT ALCOA FOUNDATION

Alcoa Foundation is a separately constituted nonprofit U.S. corporate foundation with assets of approximately $534 million. The second largest asset-based corporate foundation in the United States, its mission is to actively invest in the quality of life in Alcoa (NYSE:AA) communities worldwide. Throughout its history, the Foundation has been a source of positive community change and enhancement, with nearly $437 million invested since 1952.

The Foundation's grants address global and local needs in over 30 countries by partnering with Alcoa communities around the world to make a difference. Global and local grantmaking is responsive to the needs and aspirations of Alcoa communities and marshals the combined expertise, energies, and values of Alcoa and Alcoa Foundation to provide a world-class standard of excellence in corporate citizenship.

In 2006, Alcoa and Alcoa Foundation invested a combined total of $42.3 million in community programs in 32 countries, focusing on four areas of excellence: conservation and sustainability, global education and workplace skills, business and community partnerships, and safe and healthy children and families.

For more information, visit www.alcoa.com, under Community.

ABOUT NC RURAL ECONOMIC DEVELOPMENT CENTER

The N.C. Rural Economic Development Center is a private, nonprofit organization whose mission is to develop sound economic strategies that improve the quality of life in rural North Carolina, with a special focus on individuals with low to moderate incomes and communities with limited resources. The center’s N.C. Small Towns Economic Prosperity Program (NC STEP), a comprehensive program of technical and financial assistance, works with numerous partners to support economic recovery and revitalization in small towns affected by economic transition, natural disasters, or persistent poverty.