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April 22, 2014

USDA starts $150M rural business program

  • The types of businesses that could get funds include biotech companies, regional food hubs or companies making ag-related products for export.
    • By DAVID PITT
    Associated Press

    DES MOINES, Iowa — The U.S. Department of Agriculture announced Monday a new $150 million program designed to provide investment capital to help small agriculture-related business in rural areas with cash needed to expand.

    Secretary of Agriculture Tom Vilsack announced in Cedar Rapids the formation of the first Rural Business Investment Company, a for-profit firm licensed by the USDA to invest in businesses that otherwise might not have the capital to increase business opportunities.


     
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