Secretary of Agriculture announces funds to support rural areas

10/4/2011

USDA loans totaling approximately $8.6 million were recently announced by Secretary of Agriculture Tom Vilsack in an effort to support rural communities, Indiana Prairie Farmer reports.

The funding will help create jobs and support regional economies in 34 different states.

"The funds I am announcing today will help local business leaders, communities, and disadvantaged agricultural producers take more of a collaborative and regional approach toward jobs creation, business development and economic growth," said Vilsack.

Vilsack added that with the funding, he hopes to "cluster the economies" in certain geographic locations based on self-identified strengths to increase overall productivity.

One program is the the Rural Business Opportunity Grant, which will support regional planning activities with more than $2.5 million in USDA funding to support 37 projects in 27 states.

Another is the Small and Socially Disadvantaged Producer Grant, which will provide $2.9 million in technical assistance to 19 recipients through eligible associations. A third fund mentioned is the Rural Economic Development Loan and Grant Program.

The funds are expected to create approximately 354 jobs, the news source adds.