Topeka, Kansas, May 17, 2002 – "USDA Rural Development has approved a Business and Industry Guaranteed Loan of $1,955,000 to Stockyards Plaza, Inc. in Parson, Kansas," announced Chuck Banks, USDA Rural Development State Director for Kansas. The total project cost is estimated at approximately $2,500,000. The local lending institution is Labette County State Bank in Altamont, Kansas. Rural Development’s Business and Industry Program promotes economic development in rural Kansas.

"Stockyards Plaza will use the loan funds to construct a travel plaza at Parsons, Kansas. The new travel plaza will provide drivers of over the road trucks, recreational vehicles, and private and commercial vehicles a safe, comfortable, and assessable place to rest and purchase fuel and convenience items. A deli and a full service grill are also planned for the facility. A total of six new jobs will be created for the City of Parsons and the Labette County area," related Randy Snider, Rural Development Specialist in the Iola USDA Rural Development office.

The purpose of the Business and Industry Guaranteed Loan Program is to insure that jobs remain in the rural areas rather than migrating to the large cities. The Program is available to lenders to assist them in providing credit to rural businesses. Rural areas in this program are generally defined as communities of 50,000 or less people. Individuals or businesses interested in acquiring information about this program or other programs of USDA Rural Development should contact their nearest Rural Development office or visit our website at: http://www.rurdev.usda.gov/ks/