Ryan Taylor, USDA Rural Development state director, announced today that Common Enterprise Development Corporation (CEDC) and the North Dakota Association of Rural Electric Cooperatives (NDaREC) were selected to each receive a $200,000 grant. The funding will be used to help rural cooperatives and small businesses expand, create jobs and strengthen their capacity to serve residents and communities.
"The cooperative business model is responsive to community needs and is successful in stimulating local economic growth,” Taylor said. "As we celebrate October as National Cooperative Month, I am pleased to announce our support of both the CEDC and NDaREC efforts.”
The funds are being provided through the Rural Cooperative Development Grant program, which helps finance non-profit groups, such as rural cooperative development centers and higher education institutions. These competitively awarded grants may be used to conduct feasibility studies, offer leadership and operations training, create and implement business plans, and help businesses develop new markets for their products and services.
For more information on USDA programs, please visit http://www.rd.usda.gov/nd.