Today the Department of Agriculture celebrated the opening of the Bostick Nursing Center, a 280 bed skilled nursing facility. The project creates 165 jobs and was funded, in part, with USDA’s Business and Industry Loan Guarantee.
“Our goal is to create jobs and drive economic development in rural areas; this project is a huge job creator,” said Jill Stuckey, USDA Rural Development Georgia State Director.
The Bostick Nursing Center patients are elderly inmates whose criminal record precludes them from existing traditional healthcare options for safety and security reasons. It is the first skilled nursing facility specifically geared to the needs of the medically fragile parolee, offering numerous levels of healthcare from emergency medicine to hospice care. Mental health and psychiatric therapy will be a strong focus of the facility.
The $10 million Business and Industry Loan Guarantee from USDA will be used for permanent financing of the facility, it is leveraged with $5 million SBA funds for working capital and a $3,445,471 investment from the borrower, Bostick Holdings, LLC, CorrectLife Bostick, LLC, Triage Holdings, LLC and CorrectHealth GDC, LLC.
Since 2009, nationwide, USDA Rural Development has invested $13.5 billion for 5,739 water and waste infrastructure projects, benefiting 19.1 million rural residents; invested nearly $13 billion to start or expand nearly 112,000 rural businesses; helped 1.1 million rural residents buy homes; funded nearly 9,200 community facilities such as schools, public safety and health care facilities; and helped bring high-speed Internet access to nearly 6 million rural residents and businesses. USDA also has invested $31.3 billion in 963 electric projects that have financed more than 185,000 miles of transmission and distribution lines serving 4.6 million rural residents. For more information, visit www.usda.gov/results.