Investment to Help 2,095 with Industry Growth in Rural North Carolina
SHELBY, N.C., October 1, 2020 – The Trump Administration today announced that the United States Department of Agriculture (USDA) is investing $10 million to provide working capital and an operating reserve on a new manufacturing facility in rural North Carolina.
“The Trump Administration is working with Mafic to bring jobs and opportunity to rural North Carolina,” said USDA Rural Development State Director Robert Hosford. “Under the leadership of President Trump and Agriculture Secretary Perdue, USDA has been working tirelessly to be a strong partner to rural North Carolina in building stronger and healthier communities, because we know when rural America thrives, all of America thrives.”
In rural North Carolina, Mafic will use a $10 million loan to provide working capital and an operating reserve on a new manufacturing facility in Shelby.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs 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 areas. For more information, visit www.rd.usda.gov.
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