Please click the link: http://www.usda.gov/Newsroom/0358.04.html Release No. 0358.04 Ed Loyd (202) 720-4623 Tim McNeilly (202) 690-0498 USDA ANNOUNCES INVESTMENT OF $11.3 MILLION IN BUSINESS DEVELOPMENT FUNDS FOR RURAL AMERCIA Funding to Create or Save Over 5,700 Rural Jobs/ 1,700 Rural Business Ventures WASHINGTON, Aug. 26, 2004-Agriculture Secretary Ann M. Veneman today announced the selection of 83 applicants in 45 states to receive approximately $11.3 million in grants for business development and job creation. The funds support President Bush's efforts to create jobs and improve economic opportunities in rural areas. "Rural business entrepreneurs are the backbone of America's rural economy," said Veneman. "The funds announced today will further stimulate local economies and help to create and save thousands of jobs." Two types of business grants are being awarded through USDA Rural Development to finance or develop small and emerging businesses. They are: Rural Business Enterprise Grants (RBEG), which can be used for a variety of purposes, including technical assistance, machinery and equipment purchases, revolving loan fund creation, and building construction, and; Rural Business Opportunity Grants (RBOG), which help sustain economic development in communities with exceptional needs by supporting their economic planning, technical assistance and business training costs. Veneman said that $745,575 in RBEG grants will be awarded to the Community Transportation Association of America to assist with providing technical assistance to improve rural passenger transportation systems and facilities in nine states. Additionally, $1.9 million in RBEG funds will be used to assist public broadcasting networks in Oregon, Maine, Alaska, North Dakota and Vermont with informational programming on rural related issues. Funding of selected applicants will be contingent upon meeting the conditions of the grant agreement. A list of the individual awards can be found at http://www.rurdev.usda.gov/rd/newsroom/news.htm. 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, Rural Development provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. 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. # USDA News oc.news@xxxxxxxx 202 720-4623 ---------------------------------------------------- To unsubscribe, send email to oc.news@xxxxxxxx and reference your email address.
