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01/30/2008
NDSU Research & Technology Park Receives Federal Grant
FARGO, January 30, 2008 – Rural Development State Director Clare Carlson today announced the award of $99,000 to NDSU Research & Technology Park, Inc. during a ceremony at NDSU. The funds are being provided by the USDA Rural Development Rural Business Enterprise Grant Program.
The grant will provide for technical assistance to nurture and assist entrepreneurial activity in the establishment of the rural outreach component of the NDSU Research and Technology Park’s entrepreneurial support program. The incubator will serve as a catalyst for economic development throughout rural North Dakota and northern Minnesota as measured by job creation, tax contributions and economic diversification. The outcome of this endeavor will be new business start-ups, business expansions and the creation of new jobs in rural areas.
The $99,000 Rural Business Enterprise Grant will be combined with the NDSU Research & Technology Park, Inc. funding of $50,000 to further the objectives in creating quality jobs in rural areas. Tony Grindberg serves as the director of NDSU Research and Technology Park Inc. and is coordinating all activities for the project.
In Fiscal Year 2007, USDA Rural Development provided over $70.1 million in loan and grant financing to North Dakota citizens.
USDA Rural Development is the lead federal entity for rural economic and community development needs. It administers financial and technical assistance through a network of state Rural Development offices, various non-profit and educational institutional partners, and its national office.
Further information on these and other rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov
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