Agricultural News
Trump Administration Invests $904,889 in Rural Business Development Grants in Rural Oklahoma
Mon, 05 Oct 2020 09:19:51 CDT
The Trump Administration today announced that the United States Department of Agriculture (USDA) is investing $904,889 in grant funds to eight entities to assist in rural business development and job creation in rural Oklahoma.
"This funding is important to our small businesses in rural Oklahoma. Through this program businesses will now have access to training and technical assistance, business incubators, or new equipment. This investment is not only saving jobs, it is creating jobs in our rural Oklahoma communities," said Dr. Lee Denney USDA Rural Development Oklahoma State Director. "Under the leadership of President Trump and Agriculture Secretary Perdue, USDA has been working tirelessly to be a strong partner to rural Oklahoma in building stronger and healthier communities, because we know when rural America thrives, all of America thrives."
The ten projects being funded through the Rural Business Development Grant Program in rural Oklahoma include:
• Peoria Tribe of Indians of Oklahoma will use $46,431 to provide technical assistance and contract a third party to complete a business plan for the Woodland Academy Learning Center in Miami, Okla.
• City of Comanche will use $46,000 to purchase and convert an abandoned gas station into a small business incubator. A coffee and donut shop will utilize the space.
• City of Comanche will use $100,000 to purchase and renovate an abandoned motel property to create a public market to host up to 40 vendors.
• Duncan Area Economic Development Foundation will use $99,425 to purchase equipment to lease to Kochendorfer Craft Brewing Company to pivot production to hand sanitizer during the pandemic.
• Rural Enterprises, Inc. will use $69,900 to purchase 30 laptops to lease to the Women's Business Center. They will provide hands-on software training to small businesses in rural communities.
• Southwest Intermediary Finance Team, Inc. will use $99,000 to purchase optometry equipment to lease to the Shortgrass Community Health Center in Hollis, Okla.
• Southwest Intermediary Finance Team, Inc. will use $123,028 to establish a revolving loan fund to assist businesses in Caddo County, Okla.
• Enid Regional Development Alliance, Inc. will use $98,216 to purchase grain bagging equipment to lease to Enterprise Grain in Kremlin, Okla.
• Modoc Tribe of Oklahoma will use $198,924 to assist Symbiotic Aquaponic, a Native-owned small business, to upgrade and expand their existing system. They grow USDA certified organic fruits and vegetables.
• Cherokee Nation will use $23,965 to assist the Cherokee Nation Small Business Assistant Center to expand its entrepreneurial and small business training to tribal members across a ten-county area.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov.
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