COLUMBIA, S.C. (WIS) – The U.S. Department of Agriculture is investing nearly $1 billion into rural communities.
USDA Secretary Tom Vilsack said $981 million in funding will go towards providing resources such as affordable housing and technical assistance, and business opportunities for rural Americans. Over $37 million in loans and grants are being awarded to businesses and entrepreneurs in the Palmetto State.
Vilsack said, “Rural people provide the everyday essentials our country depends on.”
Sumter Propco LLC is receiving $17,550,000 in loan funding to acquire a 140-unit assisted living and memory care facility known as Covenant Place of Sumter Inc. It is expected to retain 50 jobs in the region.
In Orangeburg, the Maximum Entertainment Group LLC is using a $5,114,000 loan to provide debt refinancing and business expansion in the community. The Max Family Entertainment facility is adding a go-kart ring and miniature golf course. The USDA said the project will retain 27 jobs and add another 10 to the region.
Clemson University is slotted to receive a $199,697 grant to provide aid to rural cooperatives and businesses. Two new cooperatives are expected to be created and 10 existing cooperatives will participate in the training. The USDA said two jobs are expected to be saved through the funding.
The Beaufort County Black Chamber Commerce will use a $57,710 grant to provide training and technical assistance to microloan borrowers and microentrepreneurs located in the Lowcountry. It is expected to provide technical assistance to at least 20 small businesses.
Decorum Walterboro LLC is being awarded $8,254,000. The USDA said the loan will provide financing for hotel improvements. Three new jobs are expected in the funding and 10 jobs are being retained in the area.
Landrace Holdings LLC is receiving a $6,264,000 loan to purchase and install a 74.27 MWDdc solar array in Horry County. It is expected to produce 137,217,693 kWh per year. The USDA said this will provide power to 12,662 homes.
Notice a spelling or grammar error in this article? Click or tap here to report it. Please include the article’s headline.
Stay up to date with WIS News 10. Get the app from the Apple App Store or Google Play Store and Stream us on Roku, YouTube, Amazon Fire, or Apple TV.
Copyright 2022 WIS. All rights reserved.