CONGRESSMAN RUBÉN HINOJOSA ANNOUNCES USDA RURAL DEVELOPMENT MULTI-MILLION DOLLAR GRANT/LOAN FOR SAN PATRICIO ELECTRIC COOPERATIVE, INC.
Congressman Rubén Hinojosa (D-TX-15) announced the U.S. Department of Agriculture (USDA) through its Rural Development program has awarded San Patricio Electric Cooperative, Inc: $16,853,000 in grant funding and $2,157,754 in a loan to modernize and improve the efficiency of rural electric generation and transmission systems.
"This is outstanding news for our rural residents who will benefit from the results of this USDA grant and loan," said Rep. Hinojosa. "This investment in Texas and across our country will modernize service and improve the reliability of rural electric energy. This will directly benefit rural businesses and residential customers."
The USDA has met its goal to finance $250 million in smart grid technologies throughout the U.S.A. in the fiscal year of 2012.
President Obama's plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President's leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America.
Congressman Hinojosa added, "This direct federal funding strengthens America's economy, and it helps our small towns and our rural communities."
USDA through its Rural Development mission area, administers and manages housing, business and community infrastructure programs through a national network of state and local offices. Rural Development has an active portfolio of more than $172 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.