WASHINGTON D.C. - U.S. Congressman Dan Boren today announced the selection of the Fort Towson Industrial Authority as the recipient of a $300,000 federal grant made possible by the American Recovery and Reinvestment Act, or stimulus package.
“I am pleased this funding is coming to Fort Towson. I know these resources will greatly assist the industrial authority with business development initiatives. I voted for the stimulus because it was a short-term, one-time injection of funds that will provide critical infrastructure improvements, enhance community services and programs, expand educational opportunities, and grant tax relief, while saving and creating jobs,” Boren said.
The $399,000 grant to the Fort Towson Industrial Authority is part of $15.3 million in federal funding announced Tuesday for 145 recipients nationwide to start or expand businesses in rural communities.
The funding announced today is being is being provided through USDA Rural Development's Rural Business Enterprise Program (RBEG), which helps finance new and existing businesses as well as employment-related adult education programs. RBEG funds can be used for start-up and working capital loans, building and plant renovations, transportation improvements, project planning and other business needs. Additional information on the RBEG program may be found at http://www.rurdev.usda.gov/rbs/busp/rbeg.htm.
Funding of individual recipients is contingent upon their meeting the terms of the loan or grant agreement. More information about USDA Rural Development can be found at www.rurdev.usda.gov. More information about USDA’s Recovery Act efforts is available at www.usda.gov/recovery. More information about the Federal government's efforts on the Recovery Act is available at www.recovery.gov.
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