WASHINGTON - Agriculture Secretary Dan Glickman on Friday announced $13.3 million in grants, loans and loan guarantees to 47 new rural economic development projects across the country. The investments will create or save 967 jobs in areas of high unemployment, and generate $4.4 million in leveraged funds.
Two Nevada projects received USDA Rural Development funding. The Rural Nevada Development Corporation, a small business lender based in Ely, received a $750,000 loan that it borrows from USDA at a 1 percent rate of interest, and relends to businesses throughout rural Nevada.
The Shoshone-Paiute Tribes of the Duck Valley Reservation, which straddles the Idaho/Nevada border, received a $25,000 grant to create and implement a strategic plan for economic development.
USDA provides financial assistance-targeted to rural areas suffering from high rates of poverty or unemployment-to help create jobs, provide essential services, and stimulate local economic development.
For information on USDA Rural Development programs contact the State Office in at 887-1222, or check the Rural Development Web site at:
http://www.rurdev.usda.gov/
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