USDA Rural Development has announced the selection of the City of Vincennes, Indiana as a recipient of a $77,000 Rural Business Development Grant (RBDG). Today’s announcement is one part of the United States Department of Agriculture’s efforts to strengthen the rural economy.
Rural Development funds will be used to replace roof on a historical building that will become Pantheon Business Theatre and be used as a business incubator by local economic development group for area small and emerging businesses.
Robert Hill, USDA Rural Development Business Programs Director said, "The funding represents the ongoing efforts to create economic and job opportunities in rural areas by ensuring that strategic investments are made in our small towns and cities. Rural businesses drive community revitalization by providing products and services to local residents as well as throughout the country and world. Projects like this spur important economic development and strengthen communities across Indiana."
USDA Rural Development’s Rural Business Development Grant is a competitive grant designed to support targeted technical assistance, training and other activities leading to the development or expansion of small and emerging private businesses in rural areas that have fewer than 50 employees and less than $1 million in gross revenues. Programmatic activities are separated into enterprise or opportunity type grant activities.
USDA, through its Rural Development mission area, has a portfolio of programs designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.