USDA Rural Development today released a year-end report highlighting $289 million invested in rural North Dakota economic development projects.
“There are two key ingredients in the recipe for success in improving the quality of life in rural North Dakota—community commitment and affordable capital. In the hands of people who love the rural places where they live, the $289 million delivered by this agency is critical to the infrastructure that makes life better,” said Ryan Taylor, USDA Rural Development state director.
The North Dakota 2016 Progress Report provides an overview of activities that resulted in significant investments in the following areas:
• Business and Cooperative Development: $22.7 million invested to establish businesses that help diversify rural economies and provide employment opportunities.
• Housing: $57.2 million invested to provide affordable housing and rental opportunities.
• Community Facilities: $64.5 million invested in essential community buildings and services such as hospitals, long-term care facilities and fire stations.
• Rural Utilities: $145.2 million to build-out broadband infrastructure, to deliver reliable electricity and to develop safe drinking water and sanitary waste disposal systems.
Also highlighted in the report are projects that USDA partnered to complete over the last year including: the renovation of a historic building into a restaurant, the construction of a new home, expansion of a child care facility in Casselton, and updating water system infrastructure in New England. With over 40 financial programs, Rural Development finances most projects through direct or guaranteed loans and also offers limited competitive grant opportunities.
“Federal loans, grants and loan guarantees have brought rural electricity and high speed broadband to our state’s most remote areas. It has built hospitals where healthcare is needed, provided affordable housing, put clean water in the faucets and enabled proud projects on small town Main Streets and along rural routes across the state. In the last eight years of this Administration, North Dakota has benefitted from $4.2 billion of invested commitment to our rural areas,” Taylor added.
USDA Rural Development’s mission is to improve the economy and quality of life in rural America. Applications are being accepted continuously for the development of businesses, essential facilities, housing and utility infrastructure. View the full progress report at http://www.rd.usda.gov/files/ND_ProgressReport2016.pdf.