USDA awards $750K loan to Mid-Ohio Valley Regional Council | News, Sports, Jobs


USDA Rural Improvement State Director Kris Warner, left, presents a certificates representing the award of $750,000 in mortgage funds for the Mid-Ohio Valley Regional Council to company Govt Director Carol Jackson, heart, and board Chairman Eric Peters on Tuesday on the council places of work in Parkersburg.

Picture by Evan Bevins

PARKERSBURG The U.S. Division of Agriculture on Tuesday introduced the award of $750,000 to permit the Mid-Ohio Valley Regional Council to proceed making loans to space companies and growth initiatives.

That is our fourth award since we began our partnership with the council in 2013, USDA Rural Improvement State Director Kris Warner stated throughout a cease on the MOVRC places of work at 709 Market St., Parkersburg, Tuesday. They do that higher than anybody else within the state of West Virginia.

The funds will go to an middleman relending program the council has had in place for greater than 30 years, MOVRC board Chairman Eric Peters stated. In that point, theyve offered greater than $12 million to 14 counties, beginning with the councils service space of Calhoun, Jackson, Pleasants, Ritchie, Roane, Tyler, Wirt and Wooden counties. Over time, the mortgage program expanded to additionally serve Barbour, Pocahontas, Randolph, Upshot, Webster and Wetzel counties.

MOVRC Govt Director Carol Jackson stated the governmental planning and growth company doesnt normally reveal its mortgage recipients however they’ve included manufacturing and repair companies resembling eating places and hairdressers. Loans can be utilized to assist companies with startup prices or to construct, restore or increase a facility, significantly when jobs will probably be created or retained, in accordance with the USDA.

The regional council has additionally made loans to public service districts and different public entities, Jackson stated.

A current mortgage was issued to assist with emergency repairs of a landslide, she stated.

Getting grant cash generally takes a number of months, Jackson stated.

Peters famous the Benedum Basis offered a $187,500 native match for the funding.

Warner stated loans offered via this system assist construct stronger and more healthy communities.

We all know when rural West Virginia thrives, all of America thrives, he stated.

Additionally on Tuesday, USDA introduced a $13,600 Group Services Financial Affect Initiative Grant to buy a brand new four-wheel drive police cruiser for the Gilmer County Sheriffs Division. It should substitute a cruiser that has excessive mileage and rising upkeep prices.

Evan Bevins may be reached at ebevins@newsandsentinel.com.

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