32 STATES TO RECEIVE OVER $6.8 MILLION IN RURAL DEVELOPMENT ASSISTANCE

WASHINGTON, September 17, 2002 - Agriculture Secretary Ann M. Veneman today announced that 32 states will receive more than $6.8 million in rural business loan and grant funds, designed to assist in the fostering of economic development in rural areas.

"Expanding America's rural economy depends on the development of new businesses and creation of new jobs," said Veneman. "These grants will provide rural residents with the financial tools needed to create business ventures and expand their local economies."

Veneman noted that nearly 400 businesses will benefit from the grant funds, along with the expectation that at least 2,400 jobs will be created or saved. Grants and loans for the 40 proposals will be provided through USDA's Rural Development Rural Business Enterprise Grant (RBEG) program , Rural Business Opportunity Grant (RBOG) program and the Intermediary Relending Program .

A complete list of the individual grant recipients can be found at http://www.rurdev.usda.gov/rd/newsroom/news.htm .

USDA Rural Development serves as the lead federal entity for rural development needs, and administers program assistance through three agencies: Rural Housing Service, Rural Business-Cooperative Service, and Rural Utilities Service. Further information on USDA Rural Development can be obtained by contacting any USDA Service Center or by visiting USDA's web site at http://www.rurdev.usda.gov .

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