PORTLAND, Ore., Dec. 17, 2020 — The U.S. Department of Agriculture (USDA) Rural Development invested $680 million in 2020 to build prosperity and strengthen businesses and communities across rural Oregon, announced State Director John Huffman today.
“This assistance plays a critical role in increasing economic opportunities and improving the quality of life for rural Oregonians,” said Huffman. “We are proud to partner with rural Oregon communities to finance broadband deployment, affordable housing, business development, essential facilities, and water and electric infrastructure.”
USDA Rural Development’s Fiscal Year (FY) 2020 accomplishments in rural Oregon include:
- A record $542.6 million in home financing assistance for more than 2,225 rural Oregon residents.
- $40.8 million in loan guarantees to support rural Oregon business development, expansion, and working capital needs during the coronavirus pandemic.
- $19 million in grants to expand broadband infrastructure and distance learning in rural areas.
- $14.1 million to preserve affordable rental housing and $25.1 million in rental assistance for 4,050 low-income Oregonians.
- $11.2 million to help rural Oregon businesses and agricultural producers lower their energy costs.
- $5.3 million for rural Oregon water and waste disposal systems.
- $3 million to support electric utilities serving rural Oregon.
USDA Rural Development also took immediate actions this year to assist rural residents, businesses, and communities impacted by the COVID-19 pandemic. For example, the agency provided loan forbearance, halted evictions, and made additional funding available under existing programs. To learn more, visit the Rural Development COVID-19 response website.
Additional details about USDA Rural Development’s investments in Oregon can be found in the Fiscal Year 2020 Oregon Performance Report. The funding is contingent upon the recipients meeting the terms of their loan and grant agreements.
USDA Rural Development provides loans and grants to expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing, community facilities such as schools, public safety, and health care facilities; and high-speed internet access in rural areas. Learn more at www.rd.usda.gov/or.