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City of Greensburg Incubator Project receives USDA, Frito-Lay fundingGround breaking held at funding announcement May 2 Kansas State Director Chuck Banks, along with representatives of the Kansas congressional delegation, May 2 presented Greensburg Mayor John Janssen and other City officials with a ceremonial check for $2 million in Agency funding approved for construction of a business incubator building during groundbreaking ceremonies. Frito-Lay also announced its donation of $1.1 million for the project during the May 2 ceremony. The project is a cornerstone to Greenburg's business rebuilding efforts. USDA Rural Development State Director Chuck Banks commented, "Small businesses are the backbone of our rural economy, their entrepreneurial spirit and commitment to their community is helping to create jobs and bring economic stability to rural communities across Kansas. This USDA funding will provide much needed investment financing to help Greensburg businesses recover following the May 4 tornado. USDA funds, combined with private sector donations and the Agency's technical assistance which supports local leadership, will help make these new rural businesses a reality." Mayor Janssen, in remarks at the ceremony, stated, "We greatly appreciate Frito-Lay and USDA stepping forward to help the City with this very important recovery project". The construction of the Greensburg business incubator will provide much needed space at an affordable rent for downtown business to return to the community. The incubator will temporarily house small and emerging businesses for a few years while they work to get established and ultimately move into a permanent facility. This will create a positive environment for not only re-establishing businesses but also help start new businesses. It is anticipated that the initial 12 to 15 businesses will create and save 40 to 50 jobs. The businesses will have access to technical assistance training to help develop and grow their business. USDA's funding, from the Agency's Rural Development Rural Business Enterprise Grant Program, can be used for a variety of purposes, including technical assistance, machinery and equipment purchases, revolving loan fund creation, and building construction. During the May 2 announcement, State Director Banks thanked the Kansas Congressional Delegation for their continued support of the Agency's Rural Business Enterprise Grant Program, along with the many other USDA Rural Development programs. "Over the past six years alone, the Agency's Rural Business Enterprise Grant Program has contributed over $4.7 million in added growth to the Sunflower State's economy. This represents nearly 600 jobs created and/or saved in communities across the State," remarked Banks. USDA Rural Development's mission is to deliver programs that support increasing economic opportunities and enhancing the quality of life for rural Americans. As a venture capital entity, USDA Rural Development provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure in rural America. Since 2001, USDA Rural Development has delivered over $1.2 billion for Kansas covering all Agency programs, supporting well over $6 billion in future economic development for the Sunflower State. 5/19/08 Date: 5/13/08
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