|(AUGUST 15, 2012) USDA RURAL DEVELOPMENT UNDER SECRETARY ANNOUNCES FUNDING FOR PORTAGE COUNTY, WISCONSIN|
|Stevens Point, Wisconsin, Aug 15, 2012
@@USDA Rural Development Under Secretary Dallas Tonsager today announced that CAP Services, Inc., in Portage County, Wis., has been selected to receive a loan to help local businesses and spur community development.
“The announcement of CAP Services as a recipient of an Intermediary Relending Program loan marks another step in the Obama Administration’s commitment to create jobs and economic opportunity throughout the country and in Wisconsin,” Tonsager said. “This funding will help alleviate poverty and increase economic activity and employment in Central Wisconsin.”
CAP Services will use the $380,000 loan to establish a revolving loan fund focusing on job creation through small business development and expansion in rural areas of Wisconsin. This fund will assist in the creation/retention of at least 19 full-time jobs for low- and moderate-income individuals.
CAP Services offers nearly three dozen programs through four departments to help people attain economic and emotional self-sufficiency. It has been on the front-line of the war on poverty since 1966 and offers programs in Marquette, Outagamie, Portage, Waupaca and Waushara counties. CAP Services is headquartered in Stevens Point, Wis., with offices in each of the five counties it serves.
This year, USDA is commemorating the 150th anniversary founding of the “Peoples Department.” In 1862, President Abraham Lincoln signed into law an act of Congress establishing the United States Department of Agriculture. Since then, USDA has helped support the tremendous growth and success of American agriculture, drive economic growth, conserved natural resources and build stronger communities and a stronger nation. As we celebrate 150 years of accomplishments, USDA is looking to the future. In the years to come, we will help address the changing needs of agriculture and rural America. We will continue to help provide a safe, ample food supply for our nation and the world.
During the past year, USDA Rural Development helped a record number of Wisconsinites receive funding for economic development projects and quality-of-life improvements. The agency’s investment in Wisconsin helped create or retain more than 2,000 jobs, helped 2,900 families buy their own homes; and assisted more than 200 communities improve community facilities and upgrade local infrastructure.
USDA Rural Development invested more than $558 million throughout rural Wisconsin last year. To learn more about Rural Development, visit our website at www.rurdev.usda.gov/wi.