Missouri department of economic development reports the Pattonsburg school district of Daviess County will be receiving a low-interest loan for a lighting project.
The division of energy reports Pattonsburg is to receive $152,100. The estimated energy savings is listed as $17,822 for the school district.
The division of energy is awarding nearly $3 million in low-interest loans for energy efficiency and renewable energy projects to entities including five public schools, five city governments, one university, and one public hospital. The funded projects are expected to collectively support 37 jobs and benefit more than 396,000 Missourians.
The loans are to be repaid with money saved on energy costs as a result of implementing these upgrades and improvements. DED director Mike Downing said this allows applicants to retain capital for other projects, saving taxpayers money while helping to create local jobs, hence stimulating Missouri’s economy.
Since the Energy Loan Program’s inception in 1989, the Department of Economic Development’s Division of Energy has awarded more than 571 loans resulting in more than $99 million in completed energy efficiency projects and more than $181 million in estimated cumulative energy savings.