The City of Kerrville and the Economic Improvement Corporation have recently entered into an economic development grant agreement with Peterson Health to expand their medical campus, which will also bring jobs to the community.
According to a press release, the grant will help build out regional infrastructure identified in Kerrville 2050, and will be critical for Peterson’s new $44 million Amanda and J. David Williams Surgery Center on the Peterson medical campus.
An EIC grant (funded through sales tax collections) totaling $1.6 million will aid in the construction of a public road, utilities and drainage facilities at the site. Peterson Health is the largest employer in Kerr County and recently purchased 157 acres of unimproved property adjacent to the existing hospital.
The partnership between the City, EIC and Peterson Health is predicted to accomplish numerous things, including: pave the way for quality growth in alignment with the community’s vision; enhance key medical assets in alignment with the Kerrville 2050 plan; ensure Kerrville’s retirement community that they have the healthcare they need.
EIC funds are derived from 4B sales tax revenues (not property taxes) and can be used to help fund projects that promote or develop new and expanded business enterprises that create or retain primary jobs.