Link: http://www.usda.gov/2006/03/0098.xml Ed Loyd (202) 720-4623 Darin Leach (202) 690-0498 USDA ANNOUNCES OVER $9.8 MILLION IN RURAL DEVELOPMENT FUNDING FOR RURAL ECONOMIC DEVELOPMENT AND JOB CREATION WASHINGTON, March 22, 2006--Agriculture Secretary Mike Johanns today announced the awarding of over $9.8 million to rural electric and telecommunications cooperative organizations in 10 states for rural economic and community development projects that are estimated to create or retain more than 500 rural jobs. "Business and community development are key drivers of growth in rural America," said Johanns. "These funds help to shape and strengthen the core infrastructure of rural communities, enabling them to spur the rural economy and create new jobs." The Rural Economic Development Loans and Grants (REDLG s) will be awarded through USDA Rural Development to electric and telecommunications cooperative organizations, which in turn provide loans and grants to support local economic or community development efforts. Funds can be used for a variety of purposes, including community facilities and infrastructure, improving access to local medical care and other projects that encourage a favorable climate for jobs and growth. In Minnesota, a $740,000 loan to the Federal Rural Electric Association of Jackson will assist in funding the construction of a new 50 million gallon ethanol plant, creating approximately 70 new jobs. In Georgia, a $740,000 loan to the Okefenoke Rural Electric Membership Corporation in Nahunta will provide the Southeast Georgia Joint Development Authority with funds to construct a connecting railroad track for improved access and increased export capacity to Colonel's Island Terminal at the Port of Brunswick. This project is projected to create 58 jobs and retain 25. In South Carolina, Mid-Carolina Electric Cooperative, Inc. of Lexington will utilize a $740,000 loan to assist Walter P. Rawls & Sons, Inc., an 80-year-old family owned wholesale grower, shipper and processor of fresh vegetables, with the purchase of refrigeration equipment for their 76,000 sq. ft. expansion facility in Pelion. The expanded facility anticipates the creation of 25 jobs within its' first year of operation. Funding of selected applicants will be contingent upon meeting the conditions of the loan and/or grant agreement. A complete list of selected recipients can be found at http://www.rurdev.usda.gov/. 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 has invested over $63 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. As a result, over 1.1 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. # USDA News oc.news@xxxxxxxx 202 720-4623 ---------------------------------------------------- To unsubscribe, send email to webservices@xxxxxxxx and reference your email address.
