USDA Rural Development State Director Bobby Goode presented $20.6 million to Tennessee Wesleyan University that will enhance services to students of the university.
“This is an example of the sustainable results of building partnerships with community organizations, businesses, universities, faith-based and other groups to help challenged communities shape their futures,” Goode said. “Growing the economy by investing in our rural communities is key to success.”
A Community Facilities Direct Loan will be used to construct a 30,000 square foot student life building, provide improvements to other buildings, renovate parking lot and refinance a portion of the university’s debt.
McMinn County is one of 53 counties in Tennessee designated for support under USDA’s StrikeForce for Rural Growth and Opportunity initiative. StrikeForce aims to increase investments in rural communities through intensive outreach and strong partnerships with community leaders, businesses, foundations and other groups that are working to combat persistent poverty.
Others participating in the event include President TWU Dr. Harley Knowles, VP for Financial Affairs, TWU Gail Harris, Carl Colloms, Knoxville Area Office Director Joe Woody, Chattanooga Area Office Specialist Clay Copeland.
USDA Rural Development is moving investments to rural America with housing, business and infrastructure loans and grants to create jobs and strengthen rural economies with an emphasis to assist areas of persistent poverty. Since 2009, the agency has assisted more than 1.5 million Tennessee families and businesses in 230 communities in all 95 counties of Tennessee, investing more than $6.6 billion through affordable loans, loan guarantees, and grants.
For more information on USDA Rural Development programs available in Southeastern Tennessee contact the Chattanooga Area Office at 423-756-2239. Visit us online at www.rd.usda.gov/TN.