Business
12:09 pm
Tue July 2, 2013

Purchase Area Development District Drops PACRO Administrative Role

Credit http://www.usec.com/gaseous-diffusion/paducah-gdp

The Purchase Area Development District is ending administrative services for an organization designed to ease the economic impact of the Paducah Gaseous Diffusion Plant's shutdown. The United States Enrichment Corporation ended its 1,000-employee operation at the Paducah plant in May. 

PADD officials say, in press release,  they've ended their services with  the Paducah-Area Reuse Organization because its mission will likely change.

With the May 31st announcement that USEC will cease operations and begin laying off its workforce – PADD officials began considering its continued role in the PACRO story--as the PACRO mission shifted from mitigating the potential impact of closure – to closure itself.

Evidence of PACRO’s success can be seen across the region--in particular through the success of its Industrial Parks, Sites and Spec Buildings program and the Revolving Loan Fund. Together, these programs have provided the region’s economic development organizations with the tools to bring hundreds of jobs to the area. However, the job creation that has occurred in the last six months, along with investment of millions of dollars within our communities, is its best legacy.

Today the PACRO Finance Committee will determine if future administrators will continue its multi-million dollar revolving loan program to create economic opportunities for the influx of former USEC employees.

PADD officials say they have extended an offer to continue the service, despite PACRO’s changing scope of responsibilities.