http://www.usda.gov/2006/07/0257.xml Release No. 0257.06 Contact: Ed Loyd (202) 720-4623 JOHANNS ANNOUNCES OVER $9.4 MILLION IN RURAL ECONOMIC DEVELOPMENT LOANS AND GRANTS Funds to Create or Save 1400 Jobs in 11 States WASHINGTON, July 20, 2006-Agriculture Secretary Mike Johanns today announced the award of 25 loans and grants totaling over $9.4 million to assist rural communities and businesses in 11 states. "These funds will help stimulate the economy, support renewable energy, promote business development and improve medical services in rural communities," said Johanns. "The projects funded today will help to create or save an estimated 1,400 jobs, underscoring the Bush Administration's commitment to strengthening our nation's economy." The funds are being provided through USDA Rural Development's Rural Economic Development loan and grant program. Under the program, Rural Development provides loans and grants to Rural Utilities Program borrowers, usually rural telephone or electrical cooperatives, which in turn provide loans to rural businesses and communities in their service areas. Rural Development will provide $4.1 million in grants and $5,320,000 in loans to the successful applicants. Projects being funded include a $450,000 loan to help construct and operate a farmer-owned 40 million gallon fuel grade ethanol plant in Dunn County, Wisconsin, providing 35 new jobs. Funds totaling $300,000 will be provided to an electric association to provide a loan to Eden Valley, Minnesota, for construction of a new fire and rescue hall. A $740,000 loan and a $300,000 grant will allow for the purchase of equipment needed to expand the cancer treatment center operated by the Skaggs Community Health Center in Taney County, Missouri and a $740,000 loan will assist in constructing and equipping a processing and freezing facility in Mississippi that will create 245 new jobs. According to the Labor Department, the economy has created about 1.85 million jobs over the past 12 months - and more than 5.4 million since August 2003. A complete list of the loan and grant recipients is available by going to: http://www.rurdev.usda.gov. 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 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. 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 mailto:webservices@xxxxxxxx?subject=UNSUBSCRIBE and reference your email address.
