USDA PROVIDES $327 MILLION TO IMPROVE ELECTRIC SERVICES IN SIX STATES
Funds will help maintain and improve local electric systems

WASHINGTON, July 10, 2003—Agriculture Secretary Ann M. Veneman today announced the awarding of $327 million in loans and loan guarantees to six states. Funds will be used to make needed improvements to local electric systems.

“The Bush Administration is committed to investing in rural America,” Veneman said. “These loans will help support the rural infrastructure by providing reliable and affordable electricity.”

According to USDA statistics, 23 jobs are created for every $1 million of Federal investment in electric infrastructure. The loans being awarded today could help create 7,509 jobs in rural areas in six states.

“These loans will be used to construct additions and modifications to the electric transmission systems,” said USDA Under Secretary for Rural Development Thomas C. Dorr. “Funds will be used to serve more than 17,240 new customers, build 1,214 miles of new distribution lines and make other improvements to existing electric systems.”

The following is a complete list of approved project dollars by state. A description of each funding recipient can be found at the USDA Rural Development web site at: www.rurdev.usda.gov .

Funds are provided from the USDA Rural Development Electric Program. USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at www.rurdev.usda.gov .

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