WASHINGTON - U.S. Department of Agriculture Secretary Tom Vilsack announced Wednesday that the agency is investing $1.4 billion into rural economies through job training, business loans, and the expansion of technical assistance.

“It’s a good day for rural America,” Vilsack, a former governor of Iowa, said during a call with reporters.

Eight programs will distribute 751 awards across 49 states. These programs are intended to help create wealth in rural communities.

“The rural economy, which plays an important role in our national economy, has historically lagged behind the urban and suburban counterparts,” he said. That’s why it’s important for us to focus on building back that rural economy better.”

The eight programs include the Business and Industry (B&I) Loan Guarantees, the B&I CARES Act Program, the Rural Innovation Stronger Economy (RISE) Grants, the Rural Economic Development Loan and Grant Program, the Rural Cooperative Development Loan and Grant Program, the Rural Cooperative Development Grant Program, the Rural Microentrepreneur Assistance Program, the Intermediary Relending Program, and the Value-Added Producer Grants.

KA Elkhorn Real Estate LLC in Elkhorn, NE received the largest business & Industry Loan Guarantee in the state at $5,297,000. Nebraska received $270,812 from the Rural Microentrepreneur Assistance Program which was divided between several economic development groups. $8,701 went to the Native 360 Loan Fund and $136, 998 to the Nebraska Enterprise Fund.

The Value-Added Producer Grant program gave nearly $2 million in grants to smaller producers in Nebraska such as Our Lavendar Company, a lavender farm in Big Springs, which received $49,999, and Free Day Popcorn LLC, a family farm and online retailer in Byron, which was given $250,000.

The Nebraska Board of Regents, the governing body at the University of Nebraska, was the only recipient of the Rural Cooperative Development Grant Program in Nebraska and they were awarded $200,000.

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