USDA Investing More than $300M in Efficiency, Renewables
The press release on the move said that the USDA will spend $237 million in support of 423 small businesses through the Rural Energy for America (REAP) program. In addition, the USDA is investing almost $80 million in projects in Texas. That adds to the $100 billion the USDA already has invested in Texas during the Obama administration, the press release says.
Thus week, nine businesses in Texas will receive more than $870,000 in grants and two will receive $5 million loans, according to the USDA.
In July, The U.S. Department of Agriculture announced that it will support 821 projects being run by small rural businesses and agricultural concerns. The projects all are aimed at reducing energy use and cutting costs. The funding, which consists of $43.2 million in loan guarantees and $11.6 million in grants, will made available through the Rural Energy for America Program (REAP), according to the press release.
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