WASHINGTON, June 8, 2004 –
Agriculture Secretary Ann M. Veneman today announced the selection of 84
applicants in 30 states that will receive approximately $11.8 million in
grants for business development and job creation. The funds support President
Bush’s efforts to create jobs and improve economic opportunities in
rural areas.
“These grants reflect
the Bush Administration’s ongoing commitment to supporting America’s
rural communities,” said Veneman. “The funds will bring new
economic vitality to under-served areas so that they can provide more
job opportunities and needed services to residents.”
Two types of business grants are being
awarded through USDA Rural Development to finance or develop small and
emerging businesses for the targeted areas and Tribal organizations. They
are: Rural Business
Enterprise Grants, which can be used for a variety of purposes, including
technical assistance, machinery and equipment purchases, revolving loan
fund creation, and building construction, and; Rural
Business Opportunity Grants, which help sustain economic development
in communities with exceptional needs by supporting their economic planning,
technical assistance and business training costs. Of the approximately
$11.8 million announced, USDA Rural Development will provide more than
$7.9 million to high poverty rural communities and more than 3.8 million
to Tribal organizations.
Funding of selected applicants will be
contingent upon meeting the conditions of the grant agreement. A list
of the individual awards can be found at http://www.rurdev.usda.gov/rd/newsroom/news.htm.
USDA Rural Development's mission is to
deliver programs in a way that will support increasing economic opportunity
and improve the quality of life of rural residents. As a venture capital
entity, Rural Development provides equity and technical assistance to
finance and foster growth in homeownership, business development, and
critical community and technology infrastructure. Further information
on rural programs is available at a local USDA Rural Development office
or by visiting USDA's web site at http://www.rurdev.usda.gov.
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