USDA is investing in seven projects through funds from the Electric Loan Program
Acting Assistant to the Secretary for Rural Development Joel Baxley today announced that USDA is investing $122 million to expand and upgrade rural electric systems in Arkansas, Florida, Indiana, Oklahoma and South Dakota. The funding includes more than $7 million to finance smart grid technologies to improve system operations and monitor grid security.
“Modern and reliable electric infrastructure is foundational to building prosperity in rural America,” Baxley said. “Under the leadership of Agriculture Secretary Sonny Perdue, USDA is committed to being a strong partner in improving this essential infrastructure.”
USDA is investing in seven projects through funds from the Electric Loan Program. The loans will help build or improve 964 miles of line to benefit more than 6,200 business and residential customers.
For example, Southern Indiana Rural Electric Cooperative Inc. will use a $10.5 million loan to build or improve 92 miles of line to enhance system operations for 600 rural consumers. The loan also includes more than $1.5 million for smart grid technologies. Southern Indiana serves 9,300 consumers over 1,643 miles of line across five counties. Its service territory includes both agricultural and industrial consumers, such as woodworking, furniture manufacturing, logging, rock quarrying, coal mining, crude oil production and manufacturing of steel products.
To view the report in its entirety, please view the Report to the President of the United States from the Task Force on Agriculture and Rural Prosperity (PDF, 5.4 MB). In addition, to view the categories of the recommendations, please view the Rural Prosperity infographic (PDF, 190 KB).
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.