USDA makes $153 million in investments
The Nevada State Office of USDA Rural Development has announced that $153 million has been invested in rural Nevada communities during federal fiscal year 2010, which closed Oct. 1.
Funds provided through grants, home mortgages, loans, and loan guarantees helped boost $23.7 million in business development, allowed 621 families to enter homeownership, as well as securing $20.8 million over the next two years for rural communities to enhance their telephone and Internet connectivity.
As an agency of the United States Department of Agriculture, Rural Development provides financing programs and expertise in three core areas: community infrastructure, business development, and affordable housing. This year, thanks to the American Recovery and Reinvestment Act, it also had the opportunity to assist with the development of broadband infrastructure for high speed Internet and data transmission in rural areas.
“We just finished a banner year in not only the dollar amounts we pumped through our core business areas, but also in the importance of the projects we funded to local communities,” said State Director Sarah Adler. For more information, visit http://www.rurdev.usda.gov/nv.