The U.S. Department of Agriculture Rural Housing Service awarded a $300,000 Project Grant on June 25, 2024 to Randolph Electric Membership Corp under the Rural Economic Development Loans and Grants program (CFDA 10.854). The grant funding will support economic development initiatives in rural central North Carolina, including project feasibility studies, start-up costs, business incubator projects, and other reasonable expenses to foster rural development. As an electric cooperative owned by the residents it serves, Randolph Electric Membership Corp will use the grant to create and retain employment in the local rural communities through its affordable electrical power services and infrastructure. The grant has a two-year performance period ending on June 25, 2026.
Generated 3/4/25, 5:34 AM