Albuquerque, May 20, 2011 -- USDA Rural Development State Director Terry Brunner joined Randall Vicente the Governor of the Pueblo of Acoma and U.S. Representative Steve Pearce in a groundbreaking ceremony to celebrate the beginning of construction of a new industrial park on that reservation.
The $577,750 funding for the construction of the infrastructure needs at the Sky City Junction Industrial Park is provided by Rural Development’s Rural Business Enterprise Grant (RBEG) program.
During the ceremony, Brunner said, “It is important to ensure that economic activity on tribal lands rivals that of any community in America. When completed, this new facility will establish a framework from which to develop and grow new business ventures and employment opportunities for the residents of the Pueblo of Acoma.”
RBEG funds can be used for the financing or development of a small and emerging business. Eligible uses also include assistance for marketing studies, feasibility studies, business plans and training to small and emerging businesses. The funds can also be used to purchase machinery and equipment to lease to a small and emerging business. The program also allows the creation of a revolving loan fund to loan money to a small and emerging business for the purchase of equipment, working capital, or real estate. And, in this project the money can be used to construct a building for a business incubator for small and emerging businesses. The grant funds do not go directly to any of the businesses that will use the industrial park.
USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development fosters growth in homeownership, finances business development, and supports the creation of critical community and technology infrastructure. Further information on rural programs is available at any local USDA Rural Development office or by visiting USDA Rural Development’s web site at http://www.rurdev.usda.gov