Arizona business owners discuss rural development

11/4/2011

The United States Department of Agriculture's Rural Development program currently holds a portfolio of more than $155 billion in USDA loans and guarantees. The funds aim to improve the economic stability of rural communities and their businesses.

Small business leaders in Arizona met this week with USDA Under Secretary for Rural Development Dallas Tonsager to discuss options for improving their economy and create jobs in the state's most rural areas.

The roundtable discussion, hosted by the Arizona Small Business Association, acted as a sounding board for state business owners to offer their ideas. It was also intended to educate participants about USDA loan programs and other federal resources.

Present at the meeting were a plethora of small business owners ranging from "small solar companies to Native American development groups," as well as bankers, chamber of commerce members and small business advocacy committees.

"Our programs have invested millions into rural Arizona businesses in the past few years," said Arizona state director for USDA Rural Development Alan Stephens.

ASBA was recently awarded with a Rural Development grant to provide economic relief for five communities hit hardest by the recession - Alpine, Bisbee, Clifton, Nogales and Somerton.