The U.S. Department of Agriculture's Rural Economic Development Loans and Grants (CFDA 10.854) program awarded a $300,000 Project Grant to Lumbee River EMC, an electric utility in North Carolina, on December 5, 2024. The grant funding is intended to support economic development initiatives in rural communities through activities such as feasibility studies, start-up costs, business incubator projects, and other reasonable expenses fostering rural development. By channeling resources through local utility organizations, the program aims to stimulate economic growth and job creation in underserved rural regions. The two-year performance period for this award extends through December 5, 2026.
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