AGRIBUSINESS: Vilsack Announces Rural Electric Project Funding

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Secretary of Agriculture Tom Vilsack has announced funding for rural electric projects in 16 states to provide reliable, affordable electricity for rural residents. Vilsack says USDA funding for rural electric utilities improves service to customers, makes the grid more efficient and reliable and encourages investment, business development and job creation in rural communities. Wednesday’s announcement includes more than $356 million in loans to upgrade rural electric services - including more than $15 million in smart grid funding. This funding will help finance the construction of more than 2,400 miles of new or improved electric line.