News
Infrastructure projects get USDA funding
The USDA has announced grants and loans for rural development projects in 10 states. Ag Secretary Tom Vilsack says the funding will help create jobs in rural communities, support ag education, expand access to health care and support business development.
The USDA is investing more than 8-and-a-half Million dollars which Vilsack says will be leveraged by more than 134 Million dollars in private and public financing.
The Rural Economic Development Loan and Grant Program provides funding to rural projects through local utility groups. The USDA provides zero-interest loans to local utilities – which – in turn, goes to the projects…
“The nature of these projects is really designated by the local community and the local cooperative and they come to us to essentially fill out the financing to get the job done and to break ground.”
Vilsack says it is difficult to know the exact number of jobs that will be created as a result of the funding but adds that the improvements will also help attract businesses to these areas in the future.
Some of the funding and chosen projects are:
In Iowa –
A 740-thousand dollar loan to help fund a biodiesel refinery near Forest City, Iowa – through Heartland Power Cooperative.
In lllinois –
A loan and grant through Coles-Moultrie Electric Co-op to modernize and renovate the Sarah Bush Lincoln Health Center Hospital.
In Missouri –
A 740-thousand dollar loan through Grundy Electric Co-op to assist North Central Missouri College with the construction of a new agricultural and natural resources campus and expand their educational program.
In South Dakota –
A loan through West River Electric Association of 720-thousand dollars to replace water utility lines and make street repairs in the city of Wall. A project that is expected to save 200 jobs.
Add Comment