WASHINGTON, Oct. 20, 2010 – USDA Under Secretary for Rural Development Dallas Tonsager today issued a report on how the agency's distribution of loan and grant funds provided to the agency through the American Recovery and Reinvestment Act of 2009 (Recovery Act) has helped the Nation's rural residents. The report estimates that millions of business owners and agricultural producers; Internet users, and thousands of homeowners will benefit and over 300,000 jobs are being created or saved. The job estimates contained in the report are derived from recipient reported data or program-based economic models.
"With Rural Development's loans, grants, and loan-grant combination financing for new and existing programs, we have leveraged our Recovery Act funds to ensure the greatest bang for the taxpayer's buck, allowing our agency to make unprecedented and lasting investments in rural America," said Tonsager. "I am proud of what we have accomplished over the last two years towards building livable, innovative, and sustainable rural communities."
The entire report can be read at: http://www.usda.gov/documents/USDA_ARRA_AnnualReport_10192010.pdf
President Obama signed the American Recovery and Reinvestment Act of 2009 (Recovery Act) into law last year. It is designed to jumpstart the Nation's economy, create or save millions of jobs and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need. More information about USDA's efforts regarding the Recovery Act is available at www.usda.gov/recovery. More information about the Federal government's efforts on the economic stimulus is available at http://www.recovery.gov/
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