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News
Release
Congressman Bob Etheridge
North Carolina
April 30, 2004
Contact:
Sara Lang
Phone:
(202) 225-4531
RALEIGH - U.S. Rep. Bob Etheridge (D-Lillington) today announced a $3,953,000 federal loan for the Johnston County Industrial Development Corporation to build a new skills training center. The low-interest loan, which is made available through the U.S. Department of Agriculture's (USDA) Rural Development initiative, will help build a center to provide local training for potential employees of pharmaceutical companies located in Western Johnston County.
"This is good news for Johnston County!" Etheridge said. "This loan is an investment in our future and will ensure that Johnston County residents can take advantage of a growing industry. During these tough economic times, centers like this are critical to training North Carolinians for quality jobs."
USDA makes direct loans to nonprofit and public entities for the construction of essential facilities under the "community facility direct loan" program. Most loans are made at below-market interest rates and are aimed at serving financially challenged rural areas. Allowed expenses include purchase of land needed for construction of the facility, necessary professional fees, and equipment and operating costs.
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