New Build Homes is one of several projects to receive a $5.3 million loan from the Tennessee Department of Commerce.
The program was announced Thursday as part of a larger effort to revitalize the state’s manufacturing sector.
“These two new projects are among the first of their kind in Tennessee,” said Tennessee Secretary of Commerce Dan Smith.
“The projects are designed to provide affordable and sustainable housing in areas where there are a high number of vacant or vacant housing units.”
The first new build home in the state was built in Murfreesboro, Tennessee, and the second in Shelby, Tennessee.
The new homes are being built in a project that’s been around for about three years, and will be the first to be completed.
The $5 million is part of the Tennessee State Department of Economic Development’s $15 billion state-level economic development strategy.
The money is part the state budget for fiscal year 2018, which began July 1.
The state’s economic development office said in a statement that the $5 billion will “increase our ability to support our growing economy and bring more opportunities to the communities where we work.”
The state is one among several states that has been trying to revitalise its manufacturing sector as manufacturing has been a major driver of job growth in the country.
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