|(MAY 15, 2014) USDA RURAL DEVELOPMENT RECOGNIZES BRUDD CONSTRUCTION AND THE COTTONPORT BANK AS 2013 BUSINESS AND LENDER OF THE YEAR|
|Baton Rouge, Louisiana, May 15, 2014
@@USDA Rural Development State Director, Clarence W. Hawkins announced Brudd Construction as the "2013 USDA Rural Development Business of the Year" and The Cottonport Bank as the "2013 USDA Rural Development Lender of the Year". This event was held at the Governor's Mansion in Baton Rouge. These businesses were recognized by USDA Rural Development for their valuable contributions in utilizing program funds made available through the Rural Development's Business and Cooperative Programs for creating ladders of opportunities and saving jobs in a rural impoverished area of Central Louisiana.
"Together Brudd Construction and The Cottonport Bank is working to put people back to work and creating economic growth for the communities in and around the Port of Avoyelles," said Hawkins. USDA programs provide key support needed to create rural jobs, promote local and regional economic growth, reduce poverty, and enhance the quality of life in rural towns and cities for years to come.
Brudd is a highway construction company founded in 2006 by Brad Augustine and Judd Anderson. They specialize in projects such as bridge approaches, drainage structures, and chip seals. Currently, Brudd employs 29 and anticipates additional jobs as demand for their services increase.
Brudd Construction received two Business and Industry Guaranteed Loans. The first loan in the amount of $380,000 was funded by Cottonport Bank for a new 3,000 square-foot office facility at the Avoyelles Parish Port. In addition to the new office, the Avoyelles Parish Port Commission received a $144,000 Rural Business Enterprise Grant (RBEG) for construction of a service road at the port for a new maintenance facility currently under construction for Brudd. The second loan in the amount of $1,700,000 was funded by MidSouth Bank for refinancing and to purchase equipment.
The Cottonport Bank was recognized for utilizing Rural Development funds in excess of $9.7 million in USDA Business and Industry Guaranteed Loans for Fiscal Year 2013 and strengthening the rural economy throughout Louisiana.
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.
The Louisiana USDA Rural Development State Office is located at 3727 Government Street, Alexandria, Louisiana 71302, and the telephone number is (318) 473-7920. There are four area offices located throughout the state to serve Louisiana residents. Further information on USDA Rural Development's loan and grant programs can be obtained by visiting USDA Rural Development's website at: http://www.rurdev.usda.gov/la.
USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).