MONTGOMERY, May 26, 2022 – U.S. Department of Agriculture (USDA) Rural Development Alabama State Director Nivory Gordon, Jr. announced that the Department is investing more than $18 million to help rural businesses in rural Alabama. These investments will create 18 jobs and save 79 jobs in seven Alabama counties.
“The economic success of the rural areas of Alabama is essential for our state to grow and prosper,” Gordon said. “By investing in businesses who choose to locate and stay in our rural communities, USDA is helping businesses in rural Alabama to create jobs, grow, and to find new and better markets for the items they produce. Rural Alabama is wide-open for business, and USDA stands ready to help.”
USDA is making 3 investments through the Business and Industry (B&I) Loan Guarantee Program in Alabama. These investments include:
- In St. Clair County, USDA is investing $2,570,000 in loan guarantees to ServisFirst Bank of Birmingham, Ala. to help Alcrete Industries, Inc. This investment will allow the company to continue to contribute to the local rural economy.
- In Talladega County, USDA is investing $5,914,750 in loan guarantees to United Bank of Atmore, Ala. to help Pursell Agri-Tech, LLC. This investment will create 18 jobs, save 57 jobs, and will benefit 12,749 rural residents across Talladega County.
- In Wilcox, Choctaw, Marengo, Perry, and Dallas Counties, USDA is investing $10,000,000 in loan guarantees to ServisFirst Bank of Birmingham, Ala. to help Pine Belt Cellular, Inc. This investment will save 22 jobs and will benefit 10,681 rural residents.
USDA touches the lives of all Americans each day in so many positive ways. In the Biden-Harris Administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate-smart food and forestry practices, making historic investments in infrastructure and clean-energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America. To learn more, visit www.usda.gov.
Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans 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, tribal and high-poverty areas. For more information, visit www.rd.usda.gov.
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