Last fall, South Dakota USDA Rural Development highlighted a valuable partner; GROW South Dakota, formerly known as the Northeast South Dakota Economic Corporation, for its 18 year partnership in community lending. While giving back to the communities they serve, GROW South Dakota has also contributed to the region as a whole through its fiscal administrative support of regional planning and development through a Rural Business Enterprise Grant (RBEG) and a Rural Business Opportunity Grant (RBOG).
Said South Dakota State Director Elsie Meeks, “The total impact that GROW has had is not just measured in loans made or jobs created; they have assisted in the stabilization and creation of thriving, vibrant communities in rural South Dakota.” USDA funds have been used to develop and provide web-based technical assistance for the region’s partnering organizations and for a regional website that provides a central link to local organizations and expertise for the current technology and available social media. Read more »
From left to right, Jay Risinger, VantageSouth Bank; Michael Drozd, President and CEO, Wright Foods; Lillian Salerno, Acting Administrator, USDA Rural Development Business-Cooperative Service, USDA Rural Development; Brad Neigel, VantageSouth Bank; Heidi Whitesell, VantageSouth Bank; and David Thigpen, USDA Rural Development. A USDA loan guarantee helped Wright Foods in North Carolina expand, creating 80 jobs. (USDA photo)
During these difficult economic times we know that one of the best ways to help aid in the recovery process is to assist businesses that create jobs, and spur growth. In Troy, North Carolina, USDA Rural Development had the opportunity to highlight our successful efforts with a local company Aseptia/Wright Foods.
Lillian Salerno, Acting Administrator for USDA’s Rural Business and Cooperative programs, visited the local business. Under USDA Rural Development, USDA guaranteed a $5.5 million loan last year for Aseptia to purchase a building, equipment and make building improvements for their first commercial-scale manufacturing facility. Read more »
In recent months, the Federal budget has dominated the conversation here in Washington. At the U.S. Department of Agriculture, we have been working hard on mission critical priorities, even as we implement mandatory across-the-board budget cuts.
The good news is that our proactive efforts to cut costs have saved more than $828 million in recent years, putting us in a better position to deliver important programs.
But we also have not lost sight of a key requirement for these programs to continue: passage of a comprehensive, multiyear Food, Farm and Jobs Bill. Read more »
Susan M. Corbett owns and operates Axiom Technologies, a telecommunications company headquartered in Machias, Maine. Axiom was able to expand and purchase its own building with funding support through USDA. USDA photos.
Earlier this month, Revolving Loan Fund partners representing 13 Maine Intermediaries and 8 Microenterprise Development Organizations gathered at the USDA State Office in Bangor to listen to and share ideas for investing in rural Maine businesses. This meeting was one of dozens of Revolving Loan Fund Roundtables taking place around the country to assist USDA’s Intermediary Relending Program (IRP) and Rural Microentrepreneur Assistance Program (RMAP) providers share Best Practices and challenges encountered in financing business projects in rural areas. In Maine, there is approximately $9.3 million in existing revolving loan funds for credit-worthy businesses seeking capital. Read more »
2009-2012 stand as the strongest four years for agricultural exports in history.
Today, the American brand of agriculture is surging in popularity worldwide. Fiscal years 2009-2012 represent the strongest four years in history for agricultural trade, with U.S. agricultural product exports exceeding $478 billion over these four years. Overall, American agriculture supports 1 in 12 jobs in the United States and provides American consumers with 83 percent of the food we consume, while maintaining affordability and choice. And 2013 is off to a roaring start already – with agricultural exports on track to set a new record.
Just last week, USDA announced three initiatives that expand export opportunities and reduce barriers to trade. These announcements support President Obama’s National Export Initiative, which aims to double all U.S. exports by the end of 2014, as well as underscore USDA’s commitment to a strong and resilient agricultural economy, creating jobs and boosting economic growth nationwide. Read more »
Applications are being accepted starting today from qualified non-profit and public organizations (intermediaries) to provide loans to create jobs by promoting new business development. Funding will be made available through USDA’s Intermediary Relending Program (IRP). Intermediaries work as partners with USDA and serve as a critical component to boosting local economies.
The Intermediary Relending Program is USDA Rural Development’s primary program for capitalizing revolving loan funds. Since President Obama took office, the program has created or saved an estimated 20,000 jobs nationwide. Read more »