Funded Projects to Create Rural Job Opportunities

By CnAgri2012-10-29 19:52:20 Print

Agriculture Secretary Tom Vilsack announced the selection of 112 recipients in 38 states, Washington, D.C., and the Western Pacific for loans and grants to help spur rural economic development and create or save jobs.

"These awards illustrate the important impact that economic development assistance can have on small towns and rural communities," Vilsack said. "Whether the funding is given directly to individuals or businesses, or indirectly through utilities and other intermediaries, the results are the same: new jobs, stronger economies and more vibrant communities."

USDA is providing assistance through several Rural Development programs. In one, the Rural Economic Development Loan and Grant (REDLG) program, utilities receive zero-interest loans that they pass through to local businesses for projects to create and retain jobs in rural areas. For example, Heartland Consumers Power District in Madison, SD has been selected for a $1,000,000 loan and a $300,000 grant and Sioux Valley -- Southwestern Electric Cooperative, Inc. in Colman, SD has been selected for a grant of $300,000 to provide loans to rural utilities program borrowers to provide economic development. Both projects will assist Madison Community Hospital with equipment purchases. For more information about the Rural Economic Development Loan and Grant program, please visit http://www.rurdev.usda.gov/BCP_redlg.html.

Secretary Vilsack also announced today the selection of 35 organizations for Rural Cooperative Development grants to provide technical and business development assistance in rural areas. The Value Added Agriculture Development Center, Inc. based in Pierre, SD has been selected for a $175,000 grant to support an existing Center that will provide assistance to individuals and entities in the startup, expansion, or operational improvement of rural businesses, especially those that are cooperatively or mutually owned.