DUNN, N.C., Aug. 5, 2010 – Agriculture Deputy Secretary Kathleen Merrigan today highlighted job creation efforts through USDA's strategic investments in rural America. Merrigan met with local North Carolina business leaders to discuss economic opportunities and job creation at the Dunn Area Committee of 100, Inc., a recent recipient of a USDA Rural Business Enterprise Grant (RBEG).
"These grants are part of the Obama administration's ongoing effort to create wealth and job opportunities by ensuring that strategic investments are made in rural America," said Merrigan. "Small businesses drive community revitalization by providing products and services to local residents. Projects like this spur important economic development and strengthen communities across the nation."
The RBEG program helps finance new and existing businesses as well as employment-related adult education programs. The Dunn Area Committee of 100, Inc. received a $150,000 RBEG to establish a revolving loan fund in Harnett County and Montgomery County. The Dunn Area Committee of 100, Inc. estimates that the investment will create 10 jobs and retain 45 jobs in the local area.
RBEG funds can be used for start-up and working capital loans, building and plant renovations, transportation improvements, project planning and other business needs. Additional information on the RBEG program may be found at http://www.rurdev.usda.gov/rbs/busp/rbeg.htm.
USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in 500 state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $142 billion in loans and loan guarantees.
