$65,000 grant will help Randolph create and save 33 jobs.
Agriculture Secretary Tom Vilsack today announced the selection of 145 recipients, including Randolph Area Community Development Corporation (RACDC), for more than $15.3 million in grants to start or expand businesses in rural communities. Through Recovery Act funding, businesses will be able to access to critical capital that will help with start-up and working capital loans, building and plant renovations, transportation improvements, project planning and other business needs. These Recovery Act grants represent the Obama administration s ongoing efforts to ensure strategic investments and increase economic opportunities in rural America, said Vilsack. Small businesses play an important role in building strong communities while providing vital products and services to local residents. This funding will help spur important economic development and strengthen communities in dozens of states around the country.RACDC was created to rebuild downtown Randolph after a series of fires in the early 1990 s decimated the downtown. Today, it supports community development and affordable housing goals in the greater Randolph Area. RACDC plans to use their grant of $65,000 to provide marketing services and technical assistance to two area businesses, LED Dynamics and the Randolph Farm Stand. Energy efficiency and local agriculture are two extremely important and growing sectors in our economy. said Julie Iffland, RACDC s Executive Director. We could not be more pleased with this opportunity to put Recovery Act funds to work helping these local entrepreneurs to innovate and thrive in their respective specialties.LED is a national innovator in LED lighting technology and products, started by two VTC graduates in 2000. The Farm Stand has quickly established itself as an important community institution by connecting producers of high quality local produce with consumers who value local agriculture and high quality food. RACDC will assist the businesses in developing a marketing strategy, including logo development and ad placement. In the case of LED Dynamics, the technical assistance will focus on marketing that promotes the use of their new products by informing potential commercial and industrial users of product availability and the competitive benefits of this relatively new alternative lighting product. In the case of Randolph Farm Stand, the technical assistance will focus on marketing that promotes and sustains their recent business and product expansion.Funding of individual recipients is contingent upon their meeting the terms of the grant agreement. More information about USDA Rural Development can be found at www.rurdev.usda.gov(link is external).The funding announced today 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 Rural Development s Business Programs may be found at http://www.rurdev.usda.gov/vt/(link is external) or by calling (802)828-6031.President Obama signed The American Recovery and Reinvestment Act of 2009 into law on Feb. 17, 2009. It is designed to jumpstart the nation s economy, create or save millions of jobs and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act includes measures to modernize our nation s infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need.More information about USDA s Recovery Act efforts is available at www.usda.gov/recovery(link is external). More information about the Federal government’s efforts on the Recovery Act is available at www.recovery.gov(link is external).Source: RACDC. Montpelier, VT, July 28, 2009