If you want more proof that the American Recovery and Reinvestment Act has produced major economic improvement in America, check out the report issued Friday by Vice President Biden. It highlights some of the most innovative Recovery Act projects undertaken across America and I’m proud to say that a number of those were supported by USDA.
In his introduction to the report, the Vice President highlights projects that are helping to turn the tide against an economy that was floundering only 18 months ago. Not only that, the report outlines how the Recovery Act is producing good, middle class jobs that will last for decades to come.
Here’s an example: Preferred Sands, a company in Genoa, Nebraska, received a $22 million loan guaranteed by Recovery Act funds provided by USDA. The company produces sand products that are critical to the oil and natural gas industry to keep wells working efficiently. The loan preserves 50 jobs and is expected to create another 50 jobs in the next two years. Also, the McCook Community Hospital serves a two state area including parts of Kansas and Nebraska. Through the Recovery Act, the hospital is expanding. The project has created 50 jobs and is expected to produce another 200 construction jobs. The hospital serves thousands of residents who otherwise would have to travel up to 70 miles for treatment. Other examples include broadband projects that will support job creation across the nation.
Not only has the Recovery Act sparked economic development, it has leveraged funding from private and government sources. The new report shows how, in the words of the Vice President, we are “starting to reverse the failed policies of the past decade, rebuild a new foundation for our economy that puts the middle class first, and change America to better compete in the 21st Century.” As I often say, USDA makes a difference in people’s lives every day, every way. This report outlines some of the great things that are being accomplished by this department through the Recovery Act. More information about the report is available here.