NEWS
RELEASE
United States Department
of Agriculture • Rural Development
3001 Coolidge Rd. • 2nd Floor North • Suite 200 • East Lansing, MI 48823
Phone: (517) 324-5204 • Fax: (517) 324-5225 •
alec.lloyd@mi.usda.gov
Contact: Alec Lloyd (517) 324-5204
USDA ANNOUNCES AVAILABILITY OF $3.5 MILLION FOR RURAL COOPERATIVE DEVELOPMENT
EAST LANSING, April 19, 2007 -- USDA Rural Development Director for Michigan Gene DeRossett today announced the availability of $3.5 million in grants to fund centers for cooperative development to improve economic conditions in rural areas.
“This is an investment in small business and economic development,” said DeRossett. “Cooperative development centers can be engines of growth and opportunity to strengthen rural communities.”
Grants of up to $200,000 are available to non-profit organizations and institutions of higher learning for the startup, expansion or operation of cooperative businesses. Recipients are required to provide matching funds equal to at least 25 percent of the grant award. Grants will be awarded for a one year time period starting from October 1, 2007, but no later than January 1, 2008.
The deadline for applications is June 8. An application guide and other materials may be obtained at http://www.rurdev.usda.gov/rbs/coops/rcdg/rcdg.htm or by contacting the USDA Rural Development State Office in East Lansing toll free at (800) 944-8119, TDD/TTY (517) 324-5169.
USDA Rural Development's mission is to increase economic opportunity and improve the quality of life in rural communities. As a venture capital entity, Rural Development has invested more than $76.8 billion since the beginning of the Bush Administration to provide equity and technical assistance to finance and foster growth in homeownership, business development and critical community and technology infrastructure. More than 1.5 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov.
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