Investment to Promote Rural Economic Growth
TEMPLE, TX Oct. 21, 2020 – The Trump Administration today announced that the United States Department of Agriculture (USDA) is investing $971,000 to small and emerging businesses in rural Texas. USDA is providing the funding through the Rural Business Development Grant program (RBDG).
“Supporting small businesses and rural communities is vital to ensuring rural prosperity in Texas,” said State Director Edd Hargett. “Under the leadership of President Trump and Agriculture Secretary Perdue, USDA has been working tirelessly to be a strong partner to rural Texas in building stronger and healthier communities, because we know when rural America thrives, all of America thrives.”
Recipients can use RBDG funding for projects to benefit small and emerging businesses in rural areas such as technical assistance, training, infrastructure, and to capitalize revolving loan funds. Small means that the business has fewer than 50 new workers and less than $1 million in gross revenue.
In rural Texas, the following projects are being announced today.
The city of Uvalde will use a $392,000 grant to fund basic engineering fees, control and topographic surveying, and utility permits as required for sewer improvements to support small and emerging businesses.
Iraan Economic Development Corporation in Pecos County is receiving a $200,000 grant to capitalize a revolving loan fund. The funding will be used to provide financial assistance through loans to third parties to support the development of small and emerging business enterprises in Iraan, Pecos county, Texas. The funds will assist three businesses to immediately create jobs in a city with a population of 1,229.
Kleberg County will use a $175,000 grant to purchase basic furnishings and essential equipment specific to the operation of the Kleberg Business Incubator to be established inside of the Kleberg Regional Public Safety Training Center and Emergency Command Center. The incubator will support businesses from Brooks, Kenedy, Kleberg and Jim Wells counties. At least six jobs will be created the first year the incubator is in operation.
The University of Texas at San Antonio in Bexar County is receiving a $84,000 grant to provide six rural communities with technical assistance designed to attract retail development. The benefit to each community participating will be long term as businesses move into the area.
The city of Pleasanton in Atascosa County will use a $70,000 grant to renovate a building and purchase furniture, equipment and advertising in order to use the building as a business incubator. The business incubator will offer long term assistance to small and emerging businesses in the city.
The city of LaJoya in Hidalgo County is receiving a $50,000 grant to conduct planning activities to obtain information and identify the best strategies to stimulate economic activity and recruit new businesses to the City of La Joya, Hidalgo County, Texas. Specifically, this project will support the city's need for additional business development primarily along the Interstate 2 corridor within the City of La Joya city limits.
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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