JAY — A total of $39.3 million in loans and grants will help fund 68 projects for small, rural businesses and communities in 26 states.
The lone Florida recipient is Escambia River Electric Cooperative, which was awarded $1 million to construct a 38,000-square-foot facility for Smith Tractor Company in Jay.
The facility will have retail space for inventory and product display, a community training room, and an extended parts and service department. The project is expected to create eight jobs.
See a list of all winners: http://www.rd.usda.gov/files/RDRBS_REDLG_RMAP_IRPMay2016.pdf
The funding is provided through the U.S. Department of Agriculture’s Rural Economic Development Loan and Grant program, the Intermediary Relending Program and the Rural Microentrepreneur Assistance Program program.
Each award’s funding is contingent upon the recipient meeting the terms of the loan or grant agreement.
This article originally appeared on Santa Rosa Press Gazette: USDA awards $1 million to support Jay's economic development