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Sep 27, 2006 -- Agriculture Department Documents and
Publications/ContentWorks
Agriculture Secretary Mike Johanns today announced that 10 electric cooperatives serving rural residents in 15 states will receive more than $234 million in loans to improve infrastructure, erect new lines, and provide service to 6,200 new customers. The loans are provided through the USDA Rural Development Electric Loan program, which provides infrastructure for economic development in rural communities. Since 2001, USDA has provided over 900 loans to rural electric cooperatives nationwide. One of the loans announced today is for $139,840,000 to the Tri-State Generation and Transmission Association, Inc., headquartered in Westminster, Colo. The utility will build almost 60 miles of new transmission lines and upgrade 242 miles of line in the states of Arizona, Colorado, Nebraska, New Mexico and Wyoming. The Central Virginia Electric Cooperative will receive a $17 million loan to build 188 miles of new distribution line, serving more than 2,100 new customers in 14 counties. A complete list of the utilities receiving loan funds is available at: http://www.rurdev.usda.gov. USDA Rural Development's mission is to increase economic opportunity and improve the quality of life in rural communities. As a venture capital entity, Rural Development has invested over $72 billion since the beginning of the Bush Administration to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. Over 1.2 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov. News Provided By |
