USDA Announces $19.75 Million in Rural Economic Development Grants
Agriculture Under Secretary Thomas C. Dorr announced the award of $19.75 million to create or retain jobs at rural businesses.
“These funds will help support local economic development agencies, finance infrastructure improvements, establish low-interest revolving loan funds, and help jurisdictions implement regional business and community development plans,” Dorr said. “The funding announced today is expected to save or create more than 2,300 jobs in 20 states.”
The funds are being provided through the USDA Rural Development Intermediary Relending Program and the Rural Economic Development loan and grant program. Funding in the relending program is given to intermediaries, such as community development or regional planning groups, who then re-lend the funds to local businesses. The loans must be used to start new businesses, expand existing ones, or create or retain jobs. The economic development program provides funding to Rural Utilities program borrowers, usually electric and telephone cooperatives, which then provide the money to support job retention or job creation efforts in their service areas.
The following applicants were selected to receive Intermediary Relending Program loan funds:
| Recipient | State | Loan Amount |
| Pike County Economic Development Corp. | AL | $500,000 |
| City of Oelwein | IA | $500,000 |
| Lewis County Industrial Development Authority | MO | $500,000 |
| Great Northern Development Corp. | MT | $750,000 |
| Northeast Economic Development, Inc. | NE | $250,000 |
| Monadnock Economic Development Corp. | NH | $500,000 |
| Northern Community Investment Corp. | NH | $750,000 |
| Dunn Area Community of 100, Inc. | NC | $750,000 |
| Mountain Microenterprise Loan Fund Inc. | NC | $500,000 |
| Lewis and Clark Regional Development Council | ND | $750,000 |
| Ohio Community Development Finance Fund | OH | $500,000 |
| Valley Development Initiatives | OR | $500,000 |
| Centre County Industrial Development Corp. | PA | $500,000 |
| Northwest PA Regional Planning & Development Commission | PA | $250,000 |
| Appalachian Development Corp. | SC | $750,000 |
| South Dakota Economic Development Finance Authority | SD | $500,000 |
The following applicants were selected to receive Rural Economic Development loan funds:
| Recipient | State | Loan Amount |
| Midland Power Cooperative | IA | $740,000 |
| Prairie Land Electric Cooperative | KS | $740,000 |
| Blue Valley Telecommunications Inc. | KS | $400,000 |
| Madison Telephone, LLC | KS | $493,000 |
| Hickman-Fulton Counties Rural Electric Co-op Corp. | KY | $450,000 |
| Great Lakes Energy Cooperative Inc. | MI | $388,000 |
| Brown County Rural Electric Association | MN | $740,000 |
| Intercounty Electric Cooperative Association | MO | $740,000 |
| Caddo Electric Cooperative Inc. | OK | $400,000 |
| Santee Electric Cooperative Inc. | SC | $740,000 |
| Weakley County Municipal Electric System | TN | $740,000 |
| Powell Valley Electric Cooperative | TN | $200,000 |
| Caney Fork Electric Cooperative Inc. | TN | $740,000 |
| Upper Cumberland Electric Membership Corporation | TN | $450,000 |
The following applicants were selected to receive Rural Economic Development grant funds:
| Recipient | State | Loan Amount |
| Kauai Island Utility Cooperative Inc. | HI | $300,000 |
| Northwest Telephone Cooperative Association | IA | $150,000 |
| Coon Rapids Municipal Electric Authority | IA | $300,000 |
| Hawkeye Tri-County Electric Cooperative | IA | $300,000 |
| North West Rural Electric Cooperative | IA | $300,000 |
| Osceola Electric Cooperative | IA | $300,000 |
| Wheatland Electric Cooperative | KS | $275,000 |
| The Golden Belt Telephone Association Inc. | KS | $300,000 |
| Freeborn Mower Cooperative Services | MN | $300,000 |
| Pee Dee Electric Cooperative Inc. | SC | $300,000 |
| Powell Valley Electric Cooperative | TN | $300,000 |
USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. Rural Development has invested more than $76.8 billion since the beginning of the Bush Administration to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. As a result, more than 1.5 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA’s web site at http://www.rurdev.usda.gov
