A favorable bond rating and fixed-price contract is good news for construction of Voyageurs National Park Headquarters.

The economic impact to the community of the construction of the facility will be significant. And moving forward with the project means that 55 full-time and many part-time jobs will remain in International Falls.

The bond rating will allow the city to pay less for the money it borrows on the market, and favorable interest rates will also provide savings.

Earlier, the city awarded a contract to Kraus-Anderson Construction Co. that fixes the price of the construction at $8.9 million. The contractor is so sure that it can deliver the project on its March 1, 2011, occupancy date that it agreed to pay a $3,000 per day penalty if the project is not completed by that date. We like that kind of confidence.

This project, combined with development of the Border Patrol facility west of the VNP Headquarters site, will pump money into the hands of local workers who will be hired by subcontractors on the job. That means more people will have money to invest in our community by purchasing or upgrading homes and vehicles, as well as catching up on bills and other needs that may have been put off during these recent tough times.

And ensuring that 55 full-time jobs remain based in our community is important. Those jobs are filled by people who live, work and play – all which require spending money – in Borderland.

City officials say that the two federal projects along the Rainy River waterfront are helping to spur interest in developing adjacent private property. That, too, is good news for the community. With more construction comes more jobs and more jobs means a more stable economic situation for us all.

Kudos to the International Falls and other area officials who have helped to make the waterfront developments a reality.