U.S. Department of Agriculture Rural Development Ohio State Director Jonathan McCracken today announced that USDA is awarding more than $6.4 million in loans and grants to help agricultural producers and rural small business owners make energy efficiency improvements and renewable energy investments to lower energy costs, generate new income and strengthen the resiliency of their operations.
This funding is made possible in part by President Biden’s Inflation Reduction Act, the nation’s largest-ever investment in combatting the climate crisis. It also advances the President’s Investing in America agenda to grow the nation’s economy from the middle-out and bottom up.
“President Biden and USDA are ensuring farmers and small businesses in rural Ohio are at the front lines of the clean energy economy,” McCracken said. “The more than $6 million of investments announced today will create jobs in rural Ohio, expand access to renewable energy infrastructure, and save people money on their energy bills.”
The Department is awarding the loans and grants through the Rural Energy for America Program (REAP). The investments are helping to rebuild the nation’s infrastructure and build a clean-energy economy that will combat climate change and make rural communities more resilient.
Background: Inflation Reduction Act
As a core pillar of Bidenomics and the President’s Investing in America agenda, the Inflation Reduction Act makes the largest investment in climate action in history and is lowering energy costs, bringing opportunity to communities across America and tackling the climate crisis through investments in agriculture, forest restoration, and rural communities.
Since December 2022, USDA has made up to $1.3 billion available in REAP funding through the Inflation Reduction Act. Eligible applicants include rural small business owners and agricultural producers. The program is part of the Justice40 Initiative, which is working to ensure that 40% of the benefits of certain federal investments reach communities that are marginalized, underserved and overburdened by pollution and underinvestment.
Through the Inflation Reduction Act, the Administration is delivering on its promise to fight climate change and reduce greenhouse gas emissions across America.
For more information on the Inflation Reduction Act, visit: https://www.rd.usda.gov/inflation-reduction-act.
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