Governor’s economic development bill approved by Senate

NASHVILLE (AP) — The Senate on Wednesday unanimously approved Gov. Phil Bredesen’s $20 million jobs package, which aims to pump up the state’s economic development efforts.

The bill would create a program in the Department of Economic and Community Development to assist businesses that create or retain jobs in Tennessee.

The legislation — which was approved by the House in April — also allows the department to use up to 5 percent of the money in the fund for administration, marketing and evaluation expenses.

The additional money in the fund would be used for job training assistance grants and loans, and developing a statewide broadband strategy.

“The overwhelming bipartisan passage of this legislation represents another strong step forward for jobs in Tennessee,” Bredesen said in a statement. “Improvements to training and broadband infrastructure are as important today as building roads and utilities were in the last decade.”

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Read SB2272 at http://www.legislature.state.tn.us/