|(JANUARY 09, 2013) USDA RURAL DEVELOPMENT HAS GREAT YEAR ASSISTING HOOSIERS|
|Indianapolis, IN, Jan 09, 2013
@@Agriculture Secretary Tom Vilsack today issued a report highlighting USDA Rural Development’s fiscal year (FY) 2012 investments in job creation, businesses, infrastructure and housing for Americans living in rural communities across the nation.
“President Obama’s plan for rural America has brought about historic investment in rural communities that have made them stronger,” Vilsack said. “Thanks to our loan, grant and technical assistance programs, USDA Rural Development is helping residents and rural enterprises thrive, and we are laying a strong foundation for rural America’s future.”
With an active portfolio of more than $176 billion in loans and loan guarantees, Rural Development has provided affordable housing, improved utility infrastructure, and helped businesses and cooperatives create jobs, build rural economies and increase the quality of life in rural areas. For a full copy of the 2012 Progress Report, go to
The report details the Fiscal Year 2012 data for Indiana. $727,722,959 in investments was approved for projects in the state during the past fiscal year which ran from October 1, 2011 through September 30, 2012.
USDA Rural Development Indiana State Director Philip Lehmkuhler said, “This was a remarkable year, not only for USDA Rural Development, but also for the residents of Indiana. The impact these dollars make throughout the state will touch the lives of many Hoosiers. USDA Rural Development is committed to revitalizing Indiana’s rural communities and bringing quality facilities such as hospitals, public buildings and community centers to small towns and cities that can benefit from new construction or upgrades to existing ones.”
USDA Rural Development’s Business Programs invested $19,202,009 through 85 projects, of which over $950,000 represented Renewable Energy/Energy Efficiency Program loans and grants. The purpose of the B&I Guaranteed Loan Program is to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rural communities. This purpose is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide lasting community benefits.
Community Programs provided 26 community projects worth $92,000,700 and 21 Water & Waste projects for $33,099,158. Four Utility Program projects were approved for $13,498,787.
Community/Utility Programs are the foundation of rural infrastructure. Community Programs provide loans and grants and loan guarantees for water and environmental projects, as well as community facilities projects. Water and environmental projects include water systems, waste systems, solid waste, and storm drainage facilities. Community facilities projects develop essential community facilities for public use in rural areas and may include hospitals, fire protection, safety, as well as many other community-based initiatives. The Utilities Program can provide electric power and telecommunications services which help rural areas expand economic opportunities and improve the quality of life for their residents.
Housing Programs invested $569,922,305 in Indiana housing through 9,963 projects and rental assistance, helping rural Hoosiers purchase their own home in the past 12 months. Rural Development loans are available with no down payment and no private mortgage insurance.
USDA Rural Development financial programs support such essential public facilities and services as water and sewer systems, housing, health clinics, emergency service facilities and electric and telephone service. They promote economic development by supporting loans to businesses through banks and community-managed lending pools. They offer technical assistance and information to help agricultural and other cooperatives get started and improve the effectiveness of their member services. And they provide technical assistance to help communities undertake community empowerment programs.
Further information on Rural Development programs is also available at USDA’s web site at http://www.rurdev.usda.gov.