|
|
NEWS RELEASE 1303
SW First American Place, Suite 100, Topeka,
KS 66604-4040 |
FOR IMMEDIATE RELEASE – October 25, 2004
Contact - Harold Alford (785) 271-2701
USDA
Rural Development
Awards Funding to Seneca Company
Topeka, KS – USDA Rural Development State Director Chuck Banks joined First District Congressman Jerry Moran and Seneca area officials for a $450,000 Agency program funding presentation to Koch & Co., Inc., a Seneca-based manufacturing business. The company’s Board of Directors accepted the ceremonial check, representing a zero-interest loan for a ten year term, on behalf of the corporation.
“USDA Rural Development, in partnership with Nemaha-Marshall Electric Cooperative Association, is pleased to present these funds to Koch & Co. This funding will allow Koch & Co. to expand their manufacturing capacity, resulting in up to 86 new jobs for this area. These new jobs will help expand the economic development for this region, resulting in an improved quality of life for the area’s residents. I compliment Koch & Co. for utilizing the Agency’s Rural Economic Development Loan Program,” remarked State Director Banks.
Congressman Moran commented during the presentation, “We need to do all we can to assist our rural communities in Kansas. This USDA program will help add needed jobs in this area, which will benefit all Kansans.”
Over the past three years, USDA Rural Development in Kansas has been a leader nationally in administering the Agency’s Rural Economic Development Loan Program. Nearly 400 jobs were either created or saved as a result of this USDA Rural Development program during the recently completed 2004 Fiscal Year. Overall, the Agency provided $151.9 million in program funding for Kansas during FY2004, directly assisting over 25,000 families and creating/saving nearly 800 rural jobs across the state.
USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, the Agency 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 programs, individuals may call 785-271-2702 or log onto the state’s Agency’s website at: www.rurdev.usda.gov/ks
USDA Rural Development – Committed to the future of rural communities.
- end -