Rural economic development grant - electric farm bill

The Rural Business Cooperative Services (RBCS), an office within the U.S. Department of Agriculture, awarded East Mississippi Electric Power Association (EMEPA) a $300,000 Project Grant on September 29, 2025, under the Rural Economic Development Loans and Grants program (CFDA 10.854). This award is designated as an Electric Farm Bill grant with a completion deadline of September 29, 2027. Through this funding, EMEPA will establish a Revolving Loan Fund to facilitate rural economic development and job creation initiatives in Mississippi by providing zero-interest loans to eligible rural businesses within its service territory.

Under the Rural Economic Development Loans and Grants program, EMEPA serves as a utility intermediary responsible for receiving federal funding and administering loans to ultimate rural business recipients. The grant enables EMEPA to originate and manage loans flowing from the Revolving Loan Fund to rural economic development projects, with EMEPA maintaining repayment responsibility to USDA. This structure allows rural businesses to access capital at zero interest while supporting broader economic development and employment objectives in Mississippi's rural communities. EMEPA must meet all program requirements, including record retention and financial management standards outlined in applicable Code of Federal Regulations provisions.