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MICHIGAN WEATHER

$35 Million from USDA to Strengthen Rural Michigan Economy



U.S. Department of Agriculture (USDA) Secretary Tom Vilsack Wednesday announced the Department is investing $1.4 billion to help a diverse rural America keep resources and wealth right at home through job training, business expansion and technical assistance.

"For some time, rural America has been at the mercy of an extraction economy, where resources are taken from rural lands only to create jobs and economic opportunity in urban and suburban areas," Vilsack said. "That's why USDA is committed to doing what we can to change that extraction economy into a circular economy, where value is added closer to home, so the wealth created in rural areas stays in rural areas. Today's announcement underlines the Biden-Harris Administration's commitment to helping transform the economy and bring high-paying jobs and economic opportunities to the people who need it most."

"These investments will help a variety of businesses across Michigan," said USDA Rural Development State Director for Michigan Brandon Fewins. "This is a great opportunity for interested individuals and organizations to contact us and see how we can help you to increase rural prosperity."

Michigan has 14 projects with a total of $34,353,000 in loans and $1,145,920 in grants:

  • Konos, Inc., $5 million
  • Advanced Battery Concepts, LLC, $4,024,000
  • Aircraft Precision Products, Inc., $1.5 million
  • Fortis Energy Services, Inc., $5 million
  • Bayberry Group, Inc., $8,338,000
  • Black Hawk Adrian, $2,991,000
  • Ebels Family Center, Inc., $6.6 million
  • Great Lakes Energy Cooperative, $900,000
  • Northern Great Lakes Initiatives, $70,920
  • Epple Family Farms, LLC, $250,000
  • Andrew Rupprecht, $75,000
  • Schilling Family Farms, LLC, $250,000
  • Gallagher's Vineyard & Winery Corporation, $250,000
  • Thunder Bay Winery, LLC, $250,000

Vilsack highlighted 751 investments that USDA is making in eight programs specifically designed to create economic opportunities for people and businesses in rural areas. These programs include Business and Industry (B&I) Loan Guarantees, which provided record-breaking investments in fiscal year 2021, and the B&I CARES Act Program, which has helped create thousands of jobs with funding from the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Programs also include Rural Innovation Stronger Economy (RISE) Grants, Rural Economic Development Loan and Grant Program, Rural Cooperative Development Grant Program, Rural Microentrepreneur Assistance Program, Intermediary Relending Program and Value-Added Producer Grants.

These programs are part of a suite of business and cooperative services that are projected to help create or save more than 50,000 jobs in rural America through investments made in fiscal year 2021.

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Categories: Michigan, Business, Crops, Rural Lifestyle

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