WASHINGTON, D.C. – New and better market opportunities for rural businesses and people is the goal of USDA’s Rural Development initiatives.
“The economic success of rural America has long been the bedrock of our Nation’s economy as a whole,” Tom Vilsack, USDA Secretary said. The investments we’re announcing today demonstrate how USDA remains committed to helping people in rural America create new and better market opportunities for our country.”
In South Dakota, Central Electric Coop Inc. will receive $300,000. This Rural Development investment will be used for a Revolving Loan Fund for Central Electric. The funds will be utilized by Horizon Health Care Inc., to purchase dental equipment and cabinet fixtures for new examination rooms. The facility provides dental and pharmacy services to the community.
USDA is making 154 investments totaling $770 million through three programs specifically designed to create economic opportunities for people and businesses in rural areas. These programs are the Business and Industry (B&I) Loan Guarantee Program, the Rural Economic Development Loan and Grant Programs, and the Rural Microentrepreneur Assistance Program.
The funding will help a diverse rural America keep resources and wealth right at home through job training, business expansion and technical assistance. It will help companies hire more workers and reach new customers. It will open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing. It will also help entrepreneurs and business cooperatives create jobs, grow businesses, and find new and better markets for the items they produce.
The awards are being made in Alabama, Alaska, Arkansas, Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Iowa, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wyoming and Puerto Rico.
