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Business Programs Success Stories
Tennessee

Business and Industry Guaranteed Loan Program

Outline of Need:
Tullahoma Industries manufactures uniforms for the U.S. Military. The business has plants located in Tullahoma and Gruetlie Laager in Tennessee, as well as Alabama.

How Rural Development Helped:
Loan funds were used to provide debt restructuring, purchase equipment and buy leased manufacturing facilities.

The Results:
As the result of this project, 49 jobs were created and 251 jobs saved.

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Outline of Need:
Olympic Metals provides quality cut metal products for various manufactures.

How Rural Development Helped:
Business used funds to purchase a new stretcher / leveler that are being used to provide high quality cut sheet metal products for various industrial and manufacturing users.

The Results:
As the result of this project, 18 jobs were created and 27 jobs saved.

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Rural Business Enterprise Grant

Outline of Need:
Tennessee Department of Agriculture, Tennessee Ag-tourism Initiative

How Rural Development Helped:
Grant funds were used to conduct a study and catalog of existing AG Tourism businesses located in the state. Once the study and catalog were complete, the state devised a promotion effort to assist these small business enterprises in promoting their operations across Tennessee.

The Results:
Project identified over 200 Ag Tourism business ventures across Tennessee in its first year of operation. Over 200 agriculture related business ventures were identified in the first year.

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Rural Business Opportunity Grant

Outline of Need:
Southeast Local Development Corporation Ocoee Economic Development Partnership Polk County, TN; Cherokee County, NC; and Fannin County, Georgia

How Rural Development Helped:
Grant funds were used to conduct a study and create a broad based economic development initiative relating to outdoor activities in the Ocoee River Region.

The Results:
There are approximately 10 whitewater rafting outfitters in Polk County, Tennessee at the present time, with numerous other outfitters in North Carolina and Georgia that will benefit.

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Rural Economic Development Loan Program

Outline of Need:
Forked Deer Electric Cooperative Lauderdale County Health Department Ripley, Tennessee

How Rural Development Helped:
Funds were used to construct a new 8,000 sq/ft County Health Department facility in Ripley, Tennessee, which will be owned by Lauderdale County.

The Results:
As the result of this program, 2 jobs were created and 18 jobs saved.