Harrisburg, Sep 25, 2012 -- Congressman Tim Holden (PA-17th) and USDA Rural Development State Director Thomas Williams joined TecPort officials today to break ground for a new 44,000 square foot, 71 room Candlewood Suites. The hotel is the third phase of development in the 102-acre TecPort business campus, which is adjacent to the Harrisburg Mall.
TecPort Hospitality, LLC received a $4.6 million Rural Development Business & Industry Loan Guarantee through Metro Bank for the development of the new hotel. "This funding is part of the Obama Administration's ongoing effort to expand economic opportunity for rural entrepreneurs, helping businesses in our small towns and rural communities grow and create more jobs," Williams said. "These loans will continue our work to leverage private investment and help the rural economy grow." Business & Industry Loan Guarantees bolster the existing private credit structure through the guarantee of quality loans which will provide lasting community benefits.
Rural Development’s funding continues to have a dramatic impact on rural communities across Pennsylvania. For additional information on RD projects, please visit Rural Development’s new interactive web map featuring program funding and success stories for fiscal years 2009-2011. The data can be found at: http://www.rurdev.usda.gov/RDSuccessStories.html.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values.
President Obama and Agriculture Secretary Tom Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities. USDA, through its Rural Development mission area, has an active portfolio of more than $172 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. Contact the Pennsylvania State Office at (717) 237-2299 or visit its website at www.rurdev.usda.gov/pa.