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Vilsack announces more than $6 million in economic development funding
Sep. 23, 2009

WASHINGTON, D.C. -- Agriculture Secretary Tom Vilsack today announced that 11 recipients have been selected to receive $6.17 million in loans and grants to spur economic development in eight states.

"Rebuilding and revitalizing rural America is an important component of the Obama Administration's goals and these investments will help create economic opportunities in communities throughout the country," Vilsack said.

For example, Osage Municipal Utilities in Osage, Iowa, has been selected to receive a $300,000 Rural Economic Development grant to help build a 29,000-square-foot public safety building for the city. USDA Rural Development funds will be partnered with $60,000 from Osage Municipal Utilities, local fundraising efforts and grants, as well as $1.05 million in tax increment financing. The building will house the police and fire departments and county emergency management staff serving seven rural townships in Mitchell County. The new building will replace a small, 85-year-old fire station where trucks are forced to park just 18 inches apart.

In Waverly, Tenn., Meriwether Lewis Electric Cooperative has been selected to receive a $740,000 loan to provide a zero percent pass through loan to the Humphreys County Nursing Home built in 1967. The loan will finance renovations to the aging 66-bed facility and fund construction of a new 3,320 square foot skilled rehabilitation wing. The expansion is necessary to meet state regulatory requirements to provide professional physical and occupational therapy within the county. The addition also provides space for HCNH staff to provide Adult Day Care services to improve patient's cognitive, social, dietary and physical needs of the area's aging population. The county is contributing an additional $252,000 to the project that will add 10 jobs for healthcare providers.

SOURCE: USDA.

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