Washington, DC, Sep 16, 2011 -- Agriculture Secretary Tom Vilsack has announced that funding is being provided to producers and development organizations in 40 states and the Commonwealth of Puerto Rico to promote job creation and business development.
USDA Rural Development in Nebraska is the recipient of more than $1 million.
“The Obama Administration and USDA are committed to helping rural small businesses grow, and to providing the technical support needed to spark sustainable job creation,” Vilsack said. “The funds being provided will foster an environment to create hundreds of new jobs across the nation.”
“We are pleased with the announcement of funding coming to rural Nebraska,” said Nebraska State Director Maxine Moul, USDA Rural Development. “The dollars will benefit rural Nebraska by creating new jobs and by backing the jobs that already exist. Business development is crucial to keeping our rural communities viable and it helps feed the local economy.”
In Nebraska, Knox County is currently dealing with emergency conditions caused from the Missouri River Flood of 2011. An Intermediary Relending Program (IRP) loan of $750,000 will be used to provide low-interest loans for business and community development. Five businesses have been preliminarily identified to receive assistance. Twenty percent of the IRP funds will be targeted to Native Americans and families whose median household income is at the poverty level.
Through the Rural Business Enterprise Grant program Nebraska projects received more than $250,000. The University of Nebraska-Lincoln Board of Regents (Lincoln, Neb.) will use $65,794 to promote business development in Nebraska and South Dakota utilizing the University Food Processing Center. Panhandle Area Development District (Gering, Neb.) received $27,200 to promote business development in 12 counties in Nebraska and Wyoming. The Center for Rural Affairs (Lyons, Neb.) will utilize $72,014 for Marketplace activities, including outreach to youth in Nebraska and Native American Tribes in South Dakota. The Potter Historical Foundation (Potter, Neb.) received $85,000 to buy and renovate a vacant building for a business incubator. Grants and loans are subject to the conditions outlined in the agreement. For a complete listing of the awards, click here:
In June, President Obama signed an Executive Order establishing the first White House Rural Council, chaired by Agriculture Secretary Tom Vilsack. The White House Rural Council will work throughout government to create policies to promote economic prosperity and a high quality of life in rural communities.
Since taking office, President Obama's Administration has taken significant steps to improve the lives of rural Americans and has provided broad support for rural communities. The Obama Administration has set goals of modernizing infrastructure by providing broadband access to 10 million Americans, expanding educational opportunities for students in rural areas, and providing affordable health care. In the long term, these unparalleled rural investments will help ensure that America’s rural communities are repopulating, self-sustaining and thriving economically.
USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure and facility programs through a national network of state and local offices. Rural Development has an existing portfolio of more than $155 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
For additional information in Nebraska, call (402) 437-5551.