BISMARCK, ND, Oct 18, 2012 -- USDA Rural Development State Director Jasper Schneider today announced more than $1.3 million in financing to support business and cooperative development. Six recipients were awarded loans and grants to expand rural economic activity throughout North Dakota.
“The utilities and intermediaries selected for funding will support projects that will generate new jobs, build stronger economies, and create more vibrant communities,” Schneider said. “By partnering with private and public entities, we are able to have a broad, positive impact in North Dakota.”
Rural Economic Development Loan and Grant (REDLG):
• Northern Plains Electric Cooperative: $740,000 loan to construct rail loop infrastructure to the Spiritwood Energy Park near Jamestown.
• Reservation Telephone Cooperative: $113,517 grant to assist Anova Family Health Clinic, Inc. establish a new healthcare clinic in Watford City.
Rural Cooperative Development Grant (RCDG):
• North Dakota Association of Rural Electric Cooperatives: a $175,000 grant to provide technical assistance in support of cooperatives and mutually-owned businesses.
• Common Enterprise Development Corporation: a $175,000 grant to assist entities in the start-up, expansion or operational improvement of rural businesses.
Rural Business Opportunity Grant (RBOG):
• Pembina County: a $50,000 grant to support the following projects: developing a small plant in the City of Crystal, providing technical support for a rotational molding company in the City of Neche, assisting base sector business within Pembina County in developing a capital expenditure plan, and updating the Pembina County strategic plan.
• Red River Valley Research Corridor: a $50,000 grant will support the corridor’s Expanding Regional Innovation Ecosystem (ERIE) proposal as it seeks to diversify and strengthen rural economies and create new opportunities by accelerating technology adoption, business expansion and new venture formation in a 19-county region.