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Central Wisconsin Electric Cooperative Receives Funds for Regional Economic Development

Name
Weldon Freeman
City
Washington
Release Date

Agriculture Secretary Tom Vilsack recently announced the investment of more than $9 million in loans and grants to support job growth and economic development in 12 states. The funding is being provided through USDA's Rural Economic Development Loan and Grant (REDLG) program, through which USDA provides zero-interest loans and grants to utilities that lend funds to local businesses for projects to create and retain employment.

“Small businesses are the cornerstone of the rural economy,” Vilsack said. “During the Obama Administration, USDA’s investments have directly helped more than 100,000 small business get off the ground or expand, and the projects announced today will help 15 more rural communities see job growth and economic development.”

One of the organizations selected for funding is Central Wisconsin Electric Cooperative in Rosholt, Wis. It has been approved for a $390,000 loan to help to help Nueske's Meat Products, Inc. purchase equipment to expand operations. The expansion is expected to create an additional 45 jobs.

Under today’s announcement, USDA is investing in a total of 15 projects to create jobs and expand economic opportunity in rural communities. Funding of each award announced today is contingent upon the recipient meeting the terms of the loan or grant agreement.

USDA Rural Development has a strong track record of strengthening rural businesses and economies through its Rural Business-Cooperative Service. Since 2009, USDA Rural Development has invested $11 billion to start or expand 103,000 rural businesses; helped 1.1 million rural residents buy homes; funded nearly 7,000 community facilities such as schools, public safety and health care facilities; financed 185,000 miles of electric transmission and distribution lines; and helped bring high-speed Internet access to nearly 6 million rural residents and businesses. For more information, visit www.usda.gov/results.   

USDA Rural Development’s funding continues to have a dramatic impact on rural communities across Wisconsin. During the past year, USDA Rural Development invested nearly $577 million on essential public facilities, small and emerging businesses, water and sewer systems, and housing opportunities throughout rural Wisconsin.  The agency’s investment helped create or retain more than 1,560 jobs; aided 3,000 families in buying their own homes; and assisted more than 80 communities in improving community facilities and upgrading local infrastructure. 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. For more information on USDA Rural Development programs visit USDA’s web site at www.rd.usda.gov/wi.