News Release
Release No.STELPRD4017496
ContactKatherine Belcher859.224.7306
(JULY 17, 2012) USDA OFFICIALS ANNOUNCE FUNDING FOR ASHLAND COMMUNITY AND TECHNICAL COLLEGE
Lexington, KY, Jul 17, 2012 --

@@Rural Development State Director Tom Fern will be in Morehead today to present a ceremonial check to KCTCS- Ashland Community and Technical College.

Fern said the school has been awarded a Rural Business Enterprise Grant in the amount of $74,900. The funding will be used to provide financial assistance to The Entrepreneur Center, which is an area wide partnership between the College and several other area educational, development and business entities.

“The Obama Administration and USDA is committed to helping small, rural businesses grow and providing the technical support needed to create jobs,” said Fern. “The RBEG funds awarded to Ashland Community and Technical College will be effectively utilized and help businesses in the area obtain the assistance they need to thrive and grow.”

Fern will present the check to Dr. Pat Lake, Interim President and CEO of Ashland Community and Technical College.

“Funding for the Entrepreneur Center assists ACTC in furthering our mission in Workforce and Economic Development,” said Dr. Lake. “The USDA’s support means that we can continue to provide the critical support to those small businesses that need help at a critical stage of their business development.”

These proceeds will be used to fund three major activities: 1) Technical and business management consultation and training for private business enterprises in an effort to create jobs and enhance economic development in the region; 2) A rural outreach/education program for rural entrepreneurs through the World Wide Web; and 3) Minimal office space and basic office equipment and materials to support entrepreneurial start-ups.

USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in the nation's capital and nearly 500 state and local offices. 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. Rural Development has an existing portfolio of nearly $142 billion in loans and loan guarantees.

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