U.S. Department of Agriculture (USDA) Secretary Tom Vilsack Tuesday announced that the Department is investing $770 million to help create new and better market opportunitie for rural businesses and people in 36 states and Puerto Rico. The investments include $640 million for 122 projects to help people living in socially vulnerable communities.
"The economic success of rural America has long been the bedrock of our Nation's economy as a whole," Vilsack said. "Under the leadership of President Biden and Vice President Harris, USDA is prioritizing investment in jobs, businesses, and entrepreneurial opportunities in rural America. The investments we're announcing today demonstrate how USDA remains committed to helping people in rural America create new and better market opportunities for our country."
The funding will help a diverse rural America keep resources and wealth right at home through job training, business expansion and technical assistance. It will help companies hire more workers and reach new customers. It will open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing. It will also help entrepreneurs and business cooperatives create jobs, grow businesses, and find new and better markets for the items they produce.
In Illinois, Computer Techniques Inc. (CTI) will receive $10 million.
This Rural Development investment will be used to restructure multiple debts of CTI, a computer consulting and broadband service provider in southcentral Illinois. It currently provides high-speed, fiberbased broadband service to rural businesses and residents in the Illinois communities of Taylorville, Nokomis, Hillsboro, and Edinburg. It is currently building out fiber networks in Pana and Witt, and it has plans to continue expanding to several other rural communities in the area. CTI will be able to retain its existing 53 employees as a result of this financing.
USDA is making 154 investments through three programs specifically designed to create economic opportunities for people and businesses in rural areas. These programs are the Business and Industry (B&I) Loan Guarantee Program, the Rural Economic Development Loan and Grant Programs, and the Rural Microentrepreneur Assistance Program.
The awards are being made in Alabama, Alaska, Arkansas, Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Iowa, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wyoming and Puerto Rico
Categories: Illinois, Business