Rural economic development grant - electric farm bill

Blue Ridge Electric Membership Corporation received a $300,000 Rural Economic Development Grant—Electric Farm Bill from the U.S. Department of Agriculture's Rural Business Cooperative Services under the Rural Economic Development Loans and Grants program (CFDA 10.854), awarded on September 24, 2025, with a completion date of September 24, 2027. Under this grant, Blue Ridge Electric functions as an intermediary utility organization establishing a Revolving Loan Fund to provide zero-interest pass-through financing to rural businesses and development projects within its service territory in North Carolina. The organization delivers technical assistance and project support to eligible rural recipients, including project feasibility studies, business start-up funding, and business incubator services designed to generate employment and sustain economic growth in underserved rural communities.

As a prime grant recipient under the REDLG program structure, Blue Ridge Electric administers the funds as an intermediary lender rather than as a direct implementer, with ultimate responsibility for repaying the federal grant to USDA while deploying capital to eligible rural economic development projects within its electric cooperative service area. This funding mechanism enables the utility to support job creation and economic resilience in rural North Carolina communities through structured, zero-interest loan products paired with targeted technical assistance.