The state has awarded $1 million to finish the Clallam Business Incubator at the Lincoln Center at Eighth and B streets in Port Angeles, said Jim Haguewood, executive director of the Clallam County Enconomic Development Council.
The $1 million includes a $250,000 grant and a $750,000 loan with a 1 percent interest rate over 20 years and a five year deferral for the first payment.
The loan will be repaid with Opportunity Fund money, .08 percent of the local sales tax returned to Clallam County by the state.
