FAIRMONT, W.Va. – The Trump Administration presented on Tuesday afternoon that the United States Department of Agriculture (USDA) is investing $50,000 in a rural business development grant that will assist with technology-based economic development in rural West Virginia.
This Rural Development investment is going to the WV High Technology Foundation to create a strategy and roadmap for recruiting operations to fill three new buildings at the Technology Park in Fairmont. This investment is part of 14 rural business development grant projects across West Virginia with a combined statewide investment of $627,000.
“We’re interested in, as USDA Rural Development, in building strong healthy, clean, sustainable communities. We do that through these grants and the low-interest rate loans we provide. There’s been 462,000 million dollars in West Virginia within the last year,” said Kris Warner, West Virginia State Director, USDA Rural Development. “$50,000 was the highest the Technology Park could receive, and we will continue to support advancing the technology of these rural areas, like West Virginia communities.”
The Trump Administration also announced on Tuesday that the United States Department of Agriculture (USDA) would be investing $80,665 in a grant to expand energy-efficient systems in Marion County.
This grant is being awarded to Innovation Properties to make energy efficiency improvements through the purchase and installation of HVAC systems. This project will realize $3,440 per year in savings and will replace 39,858 kWh (2%) per year, which is enough electricity to power 3 homes.
“Its hard on a limited budget to come up with strategies that will help us be competitive, make us more attractive to the public. They have obviously seen what we can do and see potential or else they wouldn’t have invested in us here at the park,” Jim Estep, President, and CEO of West Virginia Technology Foundation. “This $50,000 grant from the USDA will go a long way in helping us do the proper analysis, and strategies that will help us do a better job.”
The Rural Energy for America Program provides guaranteed loan financing and grant funding to agricultural producers and rural small businesses for renewable energy systems or to make energy efficiency improvements. For more information about the program, visit here.