Agriculture Secretary Tom Vilsack has announced $12.5 million in loans and grants for 39 projects that will help rural businesses in 21 states and the Commonwealth of Puerto Rico.
“Supporting small, rural businesses helps create jobs and helps promote entrepreneurship,” Vilsack said. “USDA Rural Development’s field structure enables our community-based staff to engage with local partners and, in turn, enables these partners to provide their local small businesses and start-ups access to the capital and technical assistance they need to be competitive in today’s global economy.”
Among the awards announced was the City of Plymouth and Plymouth Utilities, in Plymouth, Wis., who will receive a $300,000 Rural Economic Development grant to finance the renovations of a building for a start-up cheese-themed retail store and heritage center business. Project will create three jobs.
USDA is awarding $12.5 million in loans and grants through the Rural Economic Development Loan and Grant (REDLG) program, the Intermediary Relending Program (IRP), the Rural Business Development Grant (RBDG) program, and the Rural Microentrepreneur Assistance Program (RMAP) program.
Funding of each award announced today is contingent upon the recipient meeting the terms of the loan or grant agreement.
USDA Rural Development has a strong track record of strengthening rural businesses and economies through its Rural Business-Cooperative Service, which has helped 85,000 rural businesses since the start of the Obama administration.
USDA Rural Development’s funding continues to have a dramatic impact on rural communities across Wisconsin. Since 2010, USDA Rural Development has invested more than $3.5 billion on essential public facilities, small and emerging businesses, water and sewer systems, and housing opportunities in rural Wisconsin communities.
USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As the lead federal agency for rural development needs, USDA Rural Development can help rural communities and regions grow and prosper by offering a variety of financial and technical assistance programs that encourage the development of strong community and economic development strategies.
During this past year, USDA Rural Development’s $571 million investment in Wisconsin helped create or retain nearly 1,380 jobs, aided 3,600 families in buying their own homes and assisted more than 50 communities as they made improvements to their facilities, services and infrastructure.
Further information on USDA Rural Development is available at a local USDA Rural Development office or by visiting the web site at www.rd.usda.gov/wi.