U.S. Department of Agriculture (USDA) State Director for Rural Development Armando Valdez announced that USDA is awarding two grants to Fremont Economic Development Corporation (FEDC) totaling $10,033,750 to assist with economic development opportunities to improve the quality of life for rural Coloradoans.
“FEDC has been, and continues to be, a great partner for USDA Rural Development in Colorado,” said Valdez. “Through their efforts, FEDC can continue to offer technical assistance and support to get rural residents connected to new markets and jobs for the future. The two grants awarded today will provide additional funding to strengthen those endeavors,” said Valdez.
FEDC will utilize a $10 Million Meat and Poultry Intermediary Lending Program grant to capitalize a revolving loan fund to assist local meat processors in expanding meat processing centers and infrastructure, improving meat quality and ease of purchase for Coloradans. While FEDC is located in Fremont County, this Meat and Poultry Intermediary Lending program is available to all Colorado meat processors who are USDA inspected facilities or who are seeking to become USDA inspected facilities. In addition, FEDC will focus revolving loan funds on assisting local farmers and food businesses.
“Creating fairer markets and more opportunities for family farmers helps bring down prices at the grocery store and strengthens the food supply chain to lower costs for working families and create jobs and economic opportunities in rural areas,” said Valdez.
Additionally, FEDC will receive a $33,750 Rural Business Development Grant to hire a consultant to conduct a comprehensive business study and create a development plan to establish a cutting-edge training, technology, and trade center in the county. “The project will empower and equip the area's rural businesses for success. This grant will further enhance the efforts of the FEDC in providing financial backing and technical assistance to stimulate small and emerging business creation and job growth,” said Valdez.
USDA Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, tribal and high-poverty areas.
To learn more about investment resources for rural areas, visit www.rd.usda.gov/co.