Eustis, Nebraska, Jul 25, 2011 -- Lory Cappel, USDA Rural Development area technician from North Platte, and officials from Dawson Public Power District were in Eustis today to attend a ceremonial ground breaking for a new business incubator building.
“We are extremely pleased to provide funding to Dawson Public Power which will result in this much needed business incubator building” said Maxine Moul, USDA Rural Development State Director in Nebraska.
Dawson Public Power received a $300,000 grant from Rural Development through the Rural Economic Development Grant program, which was combined with their matching funds of $60,000 to create a revolving loan fund. The first loan from the fund will be made to FOOI, Inc., which will be combined with other funding, for the purpose of constructing an 8,000 square foot business incubator building.
“Access to rural capital is vital to keeping rural Nebraska vibrant and prosperous,” Moul said. “The continued efforts by all the partners for this project are a great example of working together to assist entrepreneurs in creating and retaining jobs for rural communities”
When complete, this project will provide a new manufacturing incubator building for Lone Wolf Wurst Meats. The project will create an additional 15 full time equivalent jobs in a community of 464. The company has set a goal of producing 12,000 pounds of meat products per month within the first six months and reaching 80,000 pounds per month after three years of operation.
USDA Rural Development serves as the lead federal agency for rural development needs by offering financial and technical assistance to individuals, businesses and communities. USDA Rural Development programs include funding for day care centers, fire trucks and other community facility projects; the purchase, construction or repair of homes; loans and guarantees to rural businesses to save or create jobs and renewable energy; and loans and grants for water and sewer utility projects.
Contact USDA Rural Development
USDA Rural Development has seven offices across the state serving Nebraskans living in rural areas and communities. Office locations include a State Office in Lincoln, along with Area Offices in Ainsworth, Kearney, Lincoln, Norfolk, North Platte, and Scottsbluff.
Further information on this and other programs offered by USDA Rural Development is available by calling (402) 437-5551, by visiting www.rurdev.usda.gov/ne or at any local area office.