Federal Funds for East Texas Economic Development

WASHINGTON – Agriculture Secretary Tom Vilsack has awarded six low-interest loans to local governments and community organizations that will spur rural economic development in Texas and four other states. One of those grants is headed to East Texas. The East Texas Regional Development Corporation in Kilgore will be receiving a $500,000 grant. It will be used to provide low-interest loans for business and community development. The loan is expected to create 10 jobs. According to Vilsack, “These loans will improve rural economies by providing capital to small and emerging business.” And he added that the funding, “will help ensure that emerging rural businesses will have the resources they need to grow and prosper.”