East Lansing, Sep 12, 2013 -- USDA Commemorates Ribbon-Cutting for Revitalized Port Huron Waterfront
EAST LANSING, Sept. 12, 2013 – U.S. Dept. of Agriculture Rural Development State Director for Michigan James J. Turner today commemorated the ribbon-cutting for Port Huron’s new waterfront.
“This demonstrates how USDA Rural Development loan guarantees are helping to revitalize communities across Michigan,” said Turner. “The credit we have provided benefits more than the single borrower – it has a cascade effect that enables other businesses to thrive as well, strengthening the regional economy.”
The agency provided a $7.5 million Rural Business Loan Guarantee to JB Real Estate Development LLC to redevelop the former Thomas Edison Hotel. The hotel will reopen as the DoubleTree by Hilton-Port Huron and the site will feature Baker College of Port Huron's new Culinary Institute of Michigan (CIM) and Freighters Eatery and Taproom.
USDA Rural Development State Director for Michigan James J. Turner was appointed by President Barack Obama in 2009. USDA, through its Rural Development mission area, has a portfolio of programs designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
USDA has made a concerted effort to deliver results for the American people, even as USDA implements sequestration – the across-the-board budget reductions mandated under terms of the Budget Control Act. USDA has already undertaken historic efforts since 2009 to save more than $828 million in taxpayer funds through targeted, common-sense budget reductions. These reductions have put USDA in a better position to carry out its mission, while implementing sequester budget reductions in a fair manner that causes as little disruption as possible.
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