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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
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
“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
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
- 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
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,
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.