DELEGATION ANNOUNCES MORE THAN $700,000 LOAN FOR NORTH DAKOTA ELECTRIC CO-OP
USDA Loan Will Help Retain and Create New Jobs
WASHINGTON, DC - Senators Kent Conrad and John Hoeven and Congressman Rick Berg today announced that Northern Plains Electric Cooperative will receive a $740,000 loan from the United States Department of Agriculture (USDA).
Northern Plains Electric Cooperative, based in Carrington and Cando, will use the USDA Rural Development loan to help Edgeley-based Allied Agronomy construct a 30,000 square foot warehouse for its agricultural products. The warehouse will be located near Jamestown and the project is expected to retain an estimated 48 jobs and create six new jobs.
The delegation praised USDA Rural Development and its work to extend resources to North Dakota's rural communities. In addition to working with rural electric cooperatives, the delegation noted USDA Rural Development’s support for other essential public facilities and services such as water and sewer systems, housing, health clinics, emergency service facilities and telephone services that improve the economy and quality of life in many areas of North Dakota.
Northern Plains Electric Cooperative is the largest of the distribution electric cooperatives in North Dakota. Serving approximately 10,935 members from south of Jamestown to the Canadian border, the cooperative works to provide members with electricity and to improve the quality of rural life. Northern Plains distributes electricity supplied by Basin Electric Power Cooperative and the Western Area Power Administration.
Under the conditions of the "revolving loan," USDA provides the funding at zero-interest. Northern Plains, in turn, will pass the funding through to Allied Agronomy.
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