QUINCY - The Port of Quincy project is receiving $150,000 to start a project aimed at attracting two businesses and possibly more.

The Grant County commissioners recently approved a $100,000 grant and a $50,000 loan as part of the Strategic Infrastructure Program. The program is funded through a state sales tax refund and administered by the Grant County Economic Development Council, and is aimed at projects promoting economic development.

The port wants to construct a street and extend infrastructure into industrial park six. The project is meant to accommodate two businesses which are interested in building on the 100 acre park, according to the application.

One company, an unnamed food processor, agreed to purchase 16 acres in April. The second one, Amway, is negotiating with the port to buy 27 acres for a manufacturing facility, according to the application.

"Without the infrastructure in place to accommodate these two tenants and provide incentives for future tenants ... the port will not be able to spur the economic development and diversity of the Quincy region," according to the application. "Ultimately, the development of industrial park (six) will provide employment opportunities at each of the businesses that are located at the park ... The first two tenants of the park have indicated that 85 to 110 new jobs will be created immediately."

The port plans to spend the money on planning and engineering for the street and the other improvements, according to the application. It applied for $300,000 grant and a $400,000 loan from the state Community Economic Revitalization Board. Officials plan to ask the state Legislature for $250,000 along with the other money. The tenants agreed to pay $150,000 for the improvements.

"The proposed project will provide a much-needed economic shot in the arm to the entire region as the majority of the jobs created will be year round and not directly agricultural in nature," according to the application.