USDA Rural Development Program statistics revealed

1/20/2012

According to estimates, the United States Department of Agriculture's Rural Development investments created or saved about 440,000 jobs last year.

Agriculture secretary Paul Vilsack recently provided statistical highlights of the program over the past fiscal year, citing the USDA's commitment to stimulate economic activity and grow jobs in rural communities.

Specifically, investments last year totaled $29 billion and provided housing opportunities for more than 143,000 families.

"We upgraded community facilities across the country, supported improvements to the national electric grid, funded renewable energy projects, and expanded access to affordable, high quality internet service for rural residents through Community Connect and other broadband programs," said USDA undersecretary for Rural Development Dallas Tonsanger, as quoted by Farm Futures.

Furthermore, 63 percent of the program's investments went towards increasing capital to rural businesses, communities and home buyers, while 34 percent were made in the form of USDA loans to be paid back to the government with interest.

Tossanger added that lending programs estimated to have helped create or save nearly 20,000 jobs, and notes that demand for Rural Development loans and funds are a sign that underserved communities are striving to move forward.