WASHINGTON, DC – Today, U.S. Congressman G. K. Butterfield (NC-01) praised U.S. Department of Agriculture (USDA) Secretary Tom Vilsack’s announcement for the funding 45 projects across North Carolina, including 15 in the First Congressional District under the USDA’s Rural Energy for America Program (REAP).
“Today’s announcement from Secretary Vilsack is yet another example of the Obama Administration’s commitment to boosting economic development in rural communities and helping small businesses thrive in the First Congressional District,” said Butterfield. “These grants will help these small businesses become more energy efficient, improve their bottom lines and make them more competitive so they can continue to grow and create jobs.”
The fifteen grants, totaling $278,871, were awarded to farms and small businesses in Chowan, Edgecombe, Gates, Granville, Greene, Hertford, Northampton, Perquimans, and Washington Counties.
Authorized by the 2008 Farm Bill, REAP offers financial assistance to farmers, ranchers and rural small businesses to purchase and install renewable energy systems and make energy-efficiency improvements. These federal funds leverage other private funding sources for businesses.
Under the terms of the REAP program, up to 25 percent of an eligible energy production or conservation project can be funded through a grant, and additional support can be provided in the form of a loan. Since the start of the Obama Administration, the REAP program has helped fund nearly 7,000 renewable energy and energy efficiency projects nationwide.
The announcement of 15 REAP grants for the First Congressional District of North Carolina came on the heels of USDA’s announcement for a Rural Development loan/grant package worth $2,456,000 and $50,000, respectively, for Franklin Vance Warren Opportunity Inc. in Henderson, North Carolina.
Franklin Vance Warren Opportunity Inc. provides a wide-range of programs and services aimed at combatting poverty and improving the quality of life for families in the area. The USDA loan and grant funds will be used to purchase and renovate an existing facility in Henderson, allowing Franklin Vance Warren Inc. to reduce its rental expenses by 50 percent.
Butterfield said, “I was so pleased to learn of the USDA loan and grant awarded to Franklin Vance Warren Opportunity. Franklin Vance Warren Opportunity offer critical programs and services to help the most vulnerable in our communities. These funds will enable them to continue their work for many years to come.”