Rural Development invested more than $200 million to strengthen rural New Mexico.
Photo: Trinnie Rodarte of Santa Rosa, NM celebrates National Homeownership month in June with USDA Rural Development State Director Terry Brunner. Brunner presented Ms. Rodarte a U.S. Flag a single mother of four to congratulate her for her successful home loan application she received through Rural Developments housing program.
WASHINGTON, January 11, 2013 – Agriculture Secretary Tom Vilsack today issued a report highlighting USDA Rural Development’s fiscal year (FY) 2012 investments in job creation, businesses, infrastructure and housing for Americans living in rural communities across the nation.
"President Obama’s plan for rural America has brought about historic investment in rural communities that have made them stronger," Vilsack said. "Thanks to our loan, grant and technical assistance programs, USDA Rural Development is helping residents and rural enterprises thrive, and we are laying a strong foundation for rural America’s future."
With an active portfolio of more than $176 billion in loans and loan guarantees, Rural Development has provided affordable housing, improved utility infrastructure, and helped businesses and cooperatives create jobs, build rural economies and increase the quality of life in rural areas. For a full copy of the 2012 Progress Report, go to http://www.rurdev.usda.gov/SupportDocuments/RDProgressReport-2012.pdf.
USDA Rural Development State Director Terry Brunner agreed with Secretary Vilsack’s that the agency has played a major role to work on the state’s economy by saying, "Our staff worked hard to provide the financial help needed to create a better lifestyle to those choosing to live in the rural part of the state." Brunner added, "Altogether Rural Development made $200,591,677 in loans and grants in the 2012 fiscal year. Ultimately this financial support affected thousands of rural New Mexicans with jobs, housing and basic services such as running water and improved electrical service."
Through its Community Facilities loan and grant program, Rural Development provided more than $15,766148 to construct or improve community buildings such as the expansion of Holy Cross Hospital in Taos and providing the financial support to buy a street sweeper in Hatch, New Mexico. All told, Rural Development provided more than $1.5 billion in community facilities loans and grants to develop or improve essential facilities across the nation.
Rural Development is also the lead agency ensuring that rural families have access to safe, well-built, affordable homes. In 2012, Rural Development helped 7,940 families with low- incomes obtain safe, affordable homes, providing approximately $900.9 million in single-family direct subsidized loans. Here in New Mexico 492 families received $70,665,820 in home loans or grants to buy a home or refurbish their homes.
Through Rural Development’s business and cooperative loan, grant and technical assistance programs, the agency helped about 9,700 rural small business owners or farmers improve their enterprises in 2012. Business and cooperative program funding created or saved more than 53,000 rural jobs in 2012 across the nation. Here in New Mexico 24 businesses received $7,499,725 in financial support. The funding financed the construction of a hotel in Roswell to the installation of alternative energy systems to helping ag-producers expand their business.
Under the Rural Utilities Program, Rural Development provided approximately $4.7 billion in electric loans across the nation. Here in New Mexico provided slightly more than $90.8 million in loans to three electric cooperatives so they can upgrade the electric service they provide to their members.
For additional information on Rural Development projects, please visit Rural Development’s new interactive web map featuring program funding and success stories for the past four fiscal years. The data can be found at: http://www.rurdev.usda.gov/RDSuccessStories.html.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities.
USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Tom Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, has an active portfolio of more than $176 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.