USDA Rural Development State Director Clarence W. Hawkins today attended the groundbreaking announcement for the construction of a new hotel in Jonesboro, Louisiana.
“This event today is a result of several years in conversation with Global Hotels International on how Rural Development programs can assist with growth and economic development in rural communities. Rural Development is committed to helping improve the economy and quality of living in rural towns and cities. Through our programs and services, we are bringing reliable resources like water, housing, and essential community facilities to make our rural communities attractive and sustainable,” said Clarence W. Hawkins State Director.
The funding is being provided through USDA’s Rural Development Business and Industry Program. Global Hotels received a conditional commitment for a guaranteed loan for the construction of a new 50 room Sleep Inn hotel. The Bank of Montgomery is the lender for this project. The $3.9 million loan is contingent upon the recipient meeting the terms of the loan agreement.
Global Hotels International will use the funding for construction of the hotel, purchase fixture and furniture, and working capital. The hotel will offer amenities such as free medley breakfast, rooms with oversize work area, and complimentary high speed internet service.
USDA Rural Development invests in jobs, infrastructure, community development, health, education, homeownership, and affordable rental housing to improve the economic health of rural communities. In Fiscal Year 2014, the agency investment more than $995 million in rural Louisiana through affordable loans, loan guarantees, and grants.
President Obama's historic investments in rural America have made our rural communities stronger. Under his leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America's economy, small towns and rural communities.