Co-op News
Ag Grants, Loans Back Rural Projects
The latest round of loans and grants from the Agriculture Department to electric cooperatives will underwrite projects ranging from medical equipment in a rural health care clinic to upgrades at a county detention center.
Tom Vilsack
Agriculture Secretary Tom Vilsack announced recently that more than $6.1 million will be disbursed under the Rural Economic Development Loan and Grant program.
“The funding announced today will help support the President’s vision by providing our rural communities with resources to support small businesses, improve public facilities, and create new, sustainable jobs,” he said in a statement.
The program provides zero-interest loans to co-ops, which they pass through to projects that will add or retain jobs in rural America. Co-ops support the program through prepayment of loans from the Rural Utilities Service.
Fourteen recipients in 10 states were named as REDLG recipients. Four County Electric Membership Corp., Burgaw, N.C., will get $300,000 to help Bladen Healthcare LLC buy medical equipment for a new clinic in Bladenboro. This project will create and retain 20 jobs, according to the Agriculture Department.
A $250,000 grant will go to Lumbee River Electric Membership Corp., Red Springs, N.C. The money will cover part of the cost of required improvements at a detention center in Robeson County, and will help retain 139 jobs.
In Mississippi, Singing River Electric Power Association, Lucedale, will get a $740,000 loan for barge bulkhead and rail spur construction in Moss Point. South Mississippi EPA, a G&T in Hattiesburg, will receive the same amount to help construct an industrial building in Greenwood.
A full list of recipients can be found by clicking here.
To sign up for the latest Co-op Newsmakers news alerts, click here.
Tags: Co-op News, Department of Agriculture, Rural Economic Development