Des Moines, IA, Apr 22, 2011 -- Contact: Darin Leach, Public Information Coordinator
Phone: (515) 284-4747 (office); (515) 669-5691 (cell) FOR IMMEDIATE RELEASE
Agriculture Secretary Vilsack Announces Broadband Investments to Spur Job Creation and Economic Opportunity in Rural America
Project in Minburn Receives Funding
DES MOINES, Iowa – April 22, 2011 – Agriculture Secretary Tom Vilsack recently announced support for telecommunication projects in seven states to improve broadband service to rural residents and businesses.
“Investment in broadband technology will create jobs across the country and expand opportunities for millions of Americans. Broadband provides the opportunity for rural Americans to receive improved educational services, health care and public safety. These USDA broadband loans provide rural communities the level of financial assistance required to make them full partners in the digital age and keep them competitive on a local, national and global level,” said Vilsack.
In all, USDA announced almost $40 million in loans for projects in Georgia, Illinois, Iowa, Kansas, North Dakota, Montana and Oklahoma. The telephone companies and cooperatives that have been selected to receive the financing will construct more than 1,000 miles of Fiber-To-The-Premises (FTTP) systems. USDA Rural Development funded more than 16,000 miles of FTTP projects during fiscal year 2010 to upgrade, expand or replace networks and perform system maintenance.
One Iowa project received funding as part of this announcement.
USDA Rural Development awarded Minburn Telephone Company a $2,921,000 loan. Minburn Telephone Company serves residents in Minburn and Woodward, Iowa. This funding will be used to upgrade the Minburn exchange facilities for the couple hundred users in the town and surrounding rural area.
USDA Rural Development is an equal opportunity lender with a variety of grant and direct and guaranteed loan programs for single and multi-family housing, community facilities, water and sewer development and business and industry programs.
During the past year USDA Rural Development helped a record number of Iowans receive funding for economic development projects and quality of life improvements. The agency’s investment in Iowa helped create or retain more than 2,200 jobs, aided 2,500 families in buying their own homes and assisted more than 250 communities as they made improvements to their facilities, services and infrastructure.
Contact USDA Rural Development
For more information about finance programs through USDA Rural Development, please call the office located in Indianola at (515) 961-5365 Ext. 4. This office serves communities, businesses and residents in Guthrie, Dallas, Polk, Adair, Madison, Warren, Union, Clarke, Ringgold and Decatur Counties.
USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities. Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.
Further information on programs available through USDA Rural Development is available by visiting the agency’s web site at www.rurdev.usda.gov/ia.
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