USDA economic development funds to create jobs
Monday, June 16, 2014
Article by Headlight Deming News
Agriculture Secretary Tom Vilsack today announced the selection of 49 community-based organizations in 27 states, the District of Columbia and the Commonwealth of Puerto Rico for grants to promote economic growth, support rural business development and create jobs.
"These grants will bring increased economic opportunities to rural residents and communities by strengthening the capacity of regional organizations to help small and emerging businesses," Vilsack said. "They also will help organizations experienced in economic development create more job opportunities for rural residents across the country."
The USDA is making the investments through the Rural Community Development Initiative Program. It helps community-based development organizations, federally recognized Indian tribes and other groups promote economic growth in low-income, rural communities. Recipients are required to obtain matching funds, which increase the value of the grants. USDA does not provide the grants directly to businesses or individuals. Instead, the Agency awards the money to public or non-profit intermediaries. Much of the RCDI funding is regional in nature and underscores the USDA's support of locally-based development strategies.