MORGANTOWN, WV, Oct 17, 2013 -- State Director Bobby Lewis announced that USDA Rural Development approved a Community Facilities Direct Loan of $26,000,000 for Preston Memorial Hospital Corporation, Preston County, WV.
The United States Department of Agriculture (USDA) remains focused on carrying out its mission, despite a time of significant budget uncertainty. Today's announcement is one part of the Department's efforts to strengthen the rural economy.
Rural Development funds will be used to provide permanent financing for the construction of a critical access hospital in Kingwood, WV. The new facility will replace the existing 60 year old one and will be located on property donated by the Preston County Commission.
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.