USDA Under Secretary for Rural Development Dallas Tonsager has issued a report on how the agency's distribution of loan and grant funds provided to the agency through the American Recovery and Reinvestment Act of 2009 has helped the Nation's rural residents. The report estimates that millions of business owners and agricultural producers; Internet users, and thousands of homeowners will benefit and over 300,000 jobs are being created or saved.
In announcing the report, Tonsager said ,"With Rural Development's loans, grants, and loan-grant combination financing for new and existing programs, we have leveraged our Recovery Act funds to ensure the greatest bang for the taxpayer's buck, allowing our agency to make unprecedented and lasting investments in rural America."
Rural Development obligated more than half of the $40.7 billion in Recovery Act funding obligated by the U.S. Department of Agriculture. Highlights include loans and grants for: Broadband Initiatives; Business and Industry; Community Facilities; Rural Business Enterprise; Single Family Housing; and Water and Waste Disposal.