BIOMASS HUB

AP reports that USDA Agriculture Secretary Tom Vilsack said Thursday that crop subsidies aren’t going to be enough to help revitalize rural economies and he expects the federal government to do to more to help small town America.

Vilsack explains:

It’s a chance for us to give America a wake-up call about the challenges faced by rural America.

Vilsack laid out the Obama Administration’s plans at a summit on the rural economy, saying he aims to create jobs in rural areas by pushing for new biofuels plants, installing high speed Internet connections and bolstering tourism.

The statement comes as Vilsack announced the selection of recipients in 10 states to receive funding to promote economic development and job creation through increased business lending as well as investments to support the development and ongoing success of rural microentrepreneurs and microenterprises.

The Rural Economic Development Loan and Grant program provides zero-interest loans to utility cooperatives which are passed through to local businesses for projects to create and retain employment in rural areas. The Intermediary Relending Program provides funds to organizations to establish revolving loan pools that are used to finance business and economic development activity to create or retain jobs in rural communities.

More on the Rural Economic Development Loan and Grant program.

More on investments for rural microentrepreneurs and microenterprises.