Lincoln, Nebraska, Oct 01, 2010 -- USDA Rural Development has announced the selection of four Nebraska projects to receive loans and grants totaling nearly $1.9 million to provide technical assistance, create jobs and spur economic development in rural communities.
“We are pleased that Rural Development in Nebraska has secured the funding needed to stimulate the economy, offer businesses opportunities, create jobs, further economic development, and provide expert assistance,” said Nebraska State Director Maxine Moul, USDA Rural Development. “Rural Nebraska will greatly benefit from these projects.”
Northeast Economic Development Inc. (NED, Inc.) of Norfolk, Nebraska will use a $750,000 loan through the Intermediary Loan Program to provide low interest loans to the public and non-profit organizations to relend for business and community development. NED, Inc. builds community and economic stability by enhancing employment opportunities, affordable housing, and public works through a 25 county area. The primary purpose of the IRP will be to increase the availability of capital for economic development in Antelope, Boone, Boyd, Brown, Burt, Butler, Cedar, Cherry, Colfax, Cuming, Dakota, Dixon, Dodge, Holt, Keya Paha, Knox, Madison, Nance, Pierce, Platte, Rock, Stanton, Thurston, Washington and Wayne counties. It is anticipated that 23 businesses will be assisted with an average loan of approximately $42,000 and 105 full-time equivalent jobs created or retained.
Ho-Chunk Community Development Corporation of Walthill, Nebraska received $76,070 in a Rural Business Opportunity Grant to provide technical assistance and economic development planning. ‘The Opportunity for Business Growth in Winnebago Project’ will build tourism related and affected businesses through capacity building of employees, the community members and the community itself. This project will position Winnebago and its businesses to be able to capitalize on tourism and establish a road map for expanding the community’s tourism potential.
Midwest Electric Cooperative Corporation of Grant, Nebraska will use a $740,000 Rural Economic Development Loan to provide assistance to Southwest Implement, Inc. in the construction of a new John Deere dealership in North Platte, Nebraska. The project will save seven jobs and create an additional 11 full time equivalent positions.
Dawson Public Power of Kearney, Nebraska was awarded a $300,000 Rural Economic Development Grant to create a revolving loan fund to assist in the construction of a business incubator in Eustis, Nebraska. The project will create an additional 15 full time equivalent jobs in a community of 464.