$1.3 million awarded in grants
USDA Rural Development State Director Jasper Schneider has announced more than $1.3 million in financing to support business and cooperative development. Six recipients were awarded loans and grants to expand rural economic activity throughout North Dakota.
USDA Rural Development State Director Jasper Schneider has announced more than $1.3 million in financing to support business and cooperative development. Six recipients were awarded loans and grants to expand rural economic activity throughout North Dakota.
Among the recipients awarded:
Rural Economic Development Loan and Grant:
*Northern Plains Electric Cooperative: $740,000 loan to construct rail loop infrastructure to the Spiritwood Energy Park near Jamestown.
Rural Cooperative Development Grant:
*North Dakota Association of Rural Electric Cooperatives: a $175,000 grant to provide technical assistance in support of cooperatives and mutually-owned businesses.
Rural Business Opportunity Grant:
*Red River Valley Research Corridor: a $50,000 grant will support the corridor’s Expanding Regional Innovation Ecosystem proposal as it seeks to diversify and strengthen rural economies and create new opportunities by accelerating technology adoption, business expansion and new venture formation in a 19-county region.
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