USDA Rural Development State Director Bobby Goode today announced a $1 million loan to Newport Utilities to assist RGE USA with an expansion.
“These funds will allow RGE USA to add to the current employee base as well as upgrade existing equipment,” Goode said. “We are honored to assist with job creation in Cocke County.”
Through the Rural Economic Development Loan and Grant (REDLG) program, USDA RD awarded the zero-interest loan to Newport Utilities that will, in turn, fund projects to create and retain employment in the rural area. RGE USA will use the funds to upgrade the existing manufacturing line infrastructure and purchase new equipment to expand the output of plastic injection molded components. The project will add 30 jobs to the existing 36.
Others participating in the event include U.S. Sen. Bob Corker Field Director Jill Salyers, Cocke County Mayor Crystal Ottinger, Cocke County Economic Development Director Lucus Graham, East TN Development District Director Terry Bobrowski, USDA RD Area Director Joe Woody and USDA RD Area Specialist Chuck Morris.
USDA Rural Development is moving investments to rural America with housing, business and infrastructure loans and grants to create jobs and strengthen rural economies with an emphasis to assist areas of persistent poverty. Since 2009, the agency has assisted more than 1.5 million Tennessee families and businesses in 230 communities in all 95 counties of Tennessee, investing more than $6.6 billion through affordable loans, loan guarantees, and grants.
For more information on USDA Rural Development programs available in East Tennessee contact the Knoxville Area Office at 865-523-3338 x 4. Visit us online at www.rd.usda.gov/TN.