USDA Announces Support for Jobs and Local Food Systems

USDA announced investments through the Recovery Act "for 11 businesses in 9 states to strengthen rural economies by supporting local and regional food systems" according to the USDA Press Release.

These investments are part of the USDA "Know Your Farmer, Know Your Food" initiative which "seeks to create new economic opportunities, to promote local and regional food systems that help keep wealth in rural communities, and to encourage a national conversation about what we eat and where it comes from in order to benefit producers of all sizes."

The support comes in the form of loan guarantees through USDA Rural Development's Business and Industry Guaranteed Loan Program.  This program received $1.57 billion in funding from the American Recovery and Reinvestment Act to help rural businesses.

The American Recovery and Reinvestment Act of 2009 was enacted to boost the US economy by creating or saving jobs, modernizing infrastructure, enhancing energy independence, expanding education, preserving and improving healthcare, and providing tax relief.

The loan guarantees were given to businesses in Iowa, Mississippi, Nebraska, North Carolina, Ohio, Oregon, Pennsylvania, Washington, and Wisconsin.

To read the USDA Press Release, click here.

Posted: 07/13/2010