WASHINGTON, July 13, 2007 — Agriculture Secretary Mike Johanns today announced the award of $107 million in electric loans that will be used to finance more than 1,000 miles of new electric distribution line and make other system improvements for 12,400 consumers in seven states.
"USDA provides reliable, long-term power at an affordable cost to increase competitive opportunities for rural communities nationwide," Johanns said. "Investment in infrastructure is critical for the continued growth of rural America."
The loan recipients are:
Recipient
State
Loan Amount
Coweta-Fayette Electric Membership Corporation
GA
$43,000,000
Coastal Electric Membership Corporation
GA
$16,000,000
York Electric Cooperative, Inc.,
SC
$15,600,000
Harrison Rural Electric Association, Inc.,
WV
$7,500,000
Iowa's Hawkeye Tri-County Electric Cooperative
IA
$7,000,000
Dakota Energy Cooperative
SD
$5,600,000
Sierra Electric Cooperative
NM
$5,500,000
Dakota Valley Electric Cooperative
ND
$5,400,000
Union County Electric Cooperative
SD
$1,300,000
USDA Rural Development's mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development has invested more than $76.8 billion since 2001 for equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. More than 1.5 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov.
