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NEWS RELEASE 1303
SW First American Place, Suite 100, Topeka,
KS 66604-4040 |
FOR IMMEDIATE RELEASE – June 17, 2005
Contact - Harold Alford (785) 271-2701
Blue Valley Telecommunications, Inc. Receives USDA Rural Development Funding Approval
New Area Jobs and Expanded Market Area
Topeka – USDA Rural Development State Director Chuck Banks congratulated Blue Valley Telecommunications, Inc. of Home, KS on the selection of their application to receive Agency funding to support a rural business located in their service area. The Blue Valley Telecommunications loan, totaling $710,000, will provide financing to help support the construction of a new sunflower processing plant, creating four new positions and helping to retain nine existing area jobs.
State Director Banks, commenting on Blue Valley Telecommunications selection remarked, “These business development funds will help support important local efforts to bring added economic growth and employment opportunities to the Marshall county area. The loan, also supported by the technical assistance from Blue Valley Telecommunications and USDA Rural Development, underscore our Nation’s continued commitment to promote community and economic development for rural America.”
Banks further stated, “USDA Rural Development would like to thank Blue Valley Telecommunications for their continued participation in this excellent program. This program is good for our communities, it is good for the Kansas economy, and it is good for rural Kansans working to create a better life.”
The approved funding for Kansas , totaling $1.1 million under USDA’s Rural Economic Development Loan & Grant Program, was announced by USDA Deputy Secretary Chuck Conner earlier this week in Washington , D.C. . Western Cooperative Electric Assn., Inc. of WaKeeney, KS also was selected for a $400,000 loan for improvements to a regional rural health care facility; creating nineteen new jobs and helping retain 120 current positions.
Over the past four years, USDA Rural Development in Kansas has been a leader in delivering economic development assistance through the Agency’s Rural Economic Development Loan & Grant Program. Since 1998, the Program has assisted over 80 businesses in creating or saving over 1500 jobs across rural Kansas. During this same time, under this program the Agency has partnered with 23 rural utility cooperatives to deliver nearly $24 million in business development funding to the Sunflower State.
Under the Rural Economic Development Loan & Grant Program, the Agency will make a zero-interest loan to the local rural utility cooperative. Upon receipt of the loan proceeds, following execution of loan documentation and meeting the conditions of the Program, the cooperative will then pass the loan proceeds on to the local applicant to finance job creation efforts. Funds can be used for a variety of purposes, including community facilities and infrastructure, improving access to local medical care and other projects that encourage a favorable climate for job creation and economic growth.
USDA Rural Development’s mission is to deliver programs that support increasing economic opportunities and enhancing the quality of life for rural Americans. As a venture capital entity, USDA Rural Development provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure in rural America. For additional information regarding USDA Rural Development and its programs, log onto the Agency’s website at www.rurdev.usda.gov/ks or call the Agency’s state office at 785-271-2700.
USDA Rural Development – Committed to the Future of Rural Communities.
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