"Job creation in rural communities is vital and by supporting the creation of new businesses and expansion of existing businesses," said USDA Rural Development Acting State Director Tim B. Potts.
Planning and Development District III provides service to the southeast part of the state and at present the region lacks a mechanism to link businesses together. Planning and Development District III is proposing to develop a network that will match regional businesses on the basis of their inputs (supplies, components, raw materials, etc.) and outputs (products and markets). Specific work plan implementation activities and timelines have been outlined to measure project objectives. The federal funding will be leveraged with an applicant contribution of $51,000.
"This project will enable the region to identify outsourcing and subcontracting opportunities. We want to strengthen companies by keeping businesses in the area," said Greg Henderson, executive director for Planning and Development District III.
USDA Rural Development Area Director Trace Davids and Rural Development Manager Sherrie Lewis also attended the event. USDA Rural Development has 10 offices in the state that assist rural communities. Office locations include the state office in Huron, along with area offices in Aberdeen, Huron, Mitchell, Pierre, Rapid City, Sioux Falls, Sturgis, Watertown, and Yankton.
USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. 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.