U.S. Department of Agriculture Rural Development Kentucky State Director Dr. Tom Carew today announced investments that will help two businesses save jobs in rural Kentucky.
“Investments like these two help drive job growth and economic development in rural Kentucky,” said Carew. “Thanks to the leadership of President Biden, Vice President Harris, and Agriculture Secretary Vilsack, Rural Development will continue to help rural businesses and entrepreneurs build a better future in rural Kentucky.”
Kaana KY Limited Liability Company will use a $7.6 million Business & Industry Guaranteed Loan to acquire a hotel in Paducah, Kentucky. This project will result in saving 25 jobs.
Whitaker Group LLC will use a $5.3 million Business & Industry Guaranteed Loan to purchase 32 new semi-tractors. The project will result in saving 11 jobs in Pulaski County.
In fiscal year 2022, Rural Development Kentucky invested over $196 million to help businesses and cooperatives improve the economy as well as save and create jobs across the commonwealth.
Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, tribal and high-poverty areas. For more information, visit www.rd.usda.gov.