Today, the diversity of businesses found in our rural communities closely mirrors that of metropolitan areas; coming in all shapes and sizes, small and large; start-up and existing, entrepreneurial and franchised; corporations, companies and partnerships. Both rural and metropolitan, businesses provide jobs, access to goods and services, and open doors to new opportunities for regional development and growth.
However, accessing needed resources and capital can be difficult for rural businesses.
Thanks to USDA Rural Development’s Rural Business and Cooperative Programs, accessing the needed resources and capital is possible.
Recently, Rural Business and Cooperative Programs Acting Administrator, John Padalino was in Northeastern Wisconsin to see first-hand the impact and success that USDA Rural Development program participants are experiencing. The Administrator toured Salm Partners, LLC, a sausage manufacturer, in Denmark, Wis., Salm works with a number of local and regional producers and suppliers. This past February, Salm Partners, LLC was recognized by the White House at an event honoring 46 rural manufacturing companies that have made outstanding contributions to the economy and job sustainability in their communities.
“We know that to build a strong foundation for our country, we must continue to invest in rural communities and the businesses that create new economic opportunities for those who call rural America home,” said Padalino. “We’ve seen continued growth in rural business development and the Obama Administration will continue working to strengthen local economies throughout the country. Rural Development has assisted over 60,000 businesses since 2009, and that’s created or saved about 300,000 jobs nationwide. Our array of programs really help rural communities, and for the past few years we have been working with other governmental bodies to pool resources to further foster rural economic development.”
Since 2009, USDA Rural Development has provided 142 guaranteed loans, loans, and grants totaling more than $335 million through the various Rural Business and Cooperative Programs, assisting to create or save 10,717 jobs across Wisconsin. In Northwestern Wisconsin alone, more than $129 million has been invested in 42 projects, helping to create or save nearly 2,475 jobs in the region.
Businesses are the cornerstone to a healthy and strong economy, and with the support of USDA Rural Development’s variety of Business and Cooperative loan and grant programs, economic opportunities in our rural communities will continue to grow.
To find out how USDA’s business programs can help you achieve your goals, click here.