U.S. Department of Agriculture Secretary Tom Vilsack announced Tuesday that the department has allocated $981 million for 242 projects to help create new and improved market opportunities and expanded essential services for rural communities and businesses across the country, according to a press release. Seven of those projects are located in Idaho.
The funding will help keep resources and wealth in rural communities through affordable financing and technical assistance, allowing rural businesses to begin and expand, the release said. It will also open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing.
“Rural people provide the everyday essentials our country depends on,” Vilsack said in the release. “The partnerships we’re announcing today demonstrate USDA’s commitment to advocating for rural business owners and building brighter futures for everyone in rural America.”
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Loans awarded to Idaho companies
Company: Arsiero Air, based in Idaho Falls
Loan amount: $4.49 million
Description: The loan will be used to help purchase a helicopter to expand Arsiero Air’s timber harvesting operations. The recipient will be the owner/operator of a K-1200 heavy lifting helicopter. The project will create 18 new jobs and play a critical role in allowing the recipient to access timber in otherwise inaccessible locations, allowing completion of existing and new timber harvesting contracts.
Company: Dempsey Creek Inc., based in Lava Hot Springs
Loan amount: $636,885
Description: T …