WASHINGTON — More than $980 million has been sent to numerous states and two territories to help create new and better market opportunities.
The U.S. Department of Agriculture’s Secretary Tom Vilsack announced Tuesday that a total of $981 million would be sent to 47 states, along with Guam and the Virgin Islands. Part of this cash disbursement will also be sent to Kansas and Missouri, KSNT reports.
“Rural people provide the everyday essentials our country depends on,” Vilsack said.
“Under the leadership of President Biden and Vice President Harris, USDA is dedicated to helping people through job creation and expansion of entrepreneurial opportunities in the rural places they live. The partnerships we’re announcing today demonstrate USDA’s commitment to advocating for rural business owners and building brighter futures for everyone in rural America.”
The funding will help to keep resources and wealth made by rural people in places where they live through affordable financing and technical assistance, according to Vilsack.
It will help rural Americans start businesses and allow small business owners to grow. It will also help open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing.
Two recipients of the cash disbursement in Kansas are Kansas State University and Triple Crown Jayhawk LLC.
K-State will receive a $178,607 grant to provide technical assistance to rural grocery stores transitioning to mutually-owned business models through the Business and Industry Loan Gurantees program.
Triple Crown will received a $6,971,000 loan to help refinance debt held by another lender for Triple Crown Jayhawk LLC of Gove County through the Rural Cooperative Development Grants program.
Triple Crown Energy specializes in acquiring, developing and operating oil and gas properties in a variety of basins in the Continental US. One of Triple Crown’s subsidiaries, Triple Crown Jayhawk LLC, owns and operates producing wells in Ness, Gove and Hodgeman counties.
Several Missouri businesses and entrepreneurs were selected as well, including Green Hills Rural Development Inc., Xenia Stone Castle LLC, and the University of Missouri System, among others.
Green Hills funds will be used as interim financing to purchase an existing building and remodel their newly purchased building in Trenton, Missouri.
Xenia Stone Castle will use its funding to purchase the Stone Castle Hotel & Conference Center, a 296-room hotel located in Branson, Missouri.
The University of Missouri System plans to use the funds for its Show Me Jobs projects, targeting the agribusiness, food processing, and technology industry cluster in Grundy, Harrison, Mercer, Putnam and Sullivan counties. The Show Me Jobs project expects to create 20 business starts
and 150 jobs in this north central region.
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