Loans Will Assist with Renovation and Expansion of a 75-Year-Old Facility
JEFFERSON, Iowa - May 14, 2012 - Agriculture Under Secretary for Rural Development Dallas Tonsager today announced that Greene County Medical Center (GCMC) in Iowa will receive $20 million in loans through the Community Facilities program to expand and renovate a 75-year-old medical facility and create a state-of-the-art medical campus. The Under Secretary made the announcement during a visit to the area.
"This project represents part of a continuing effort by the Obama Administration to advance technology as it relates to rural health care," Tonsager said. "Rural residents must have access to the best available care, and this medical campus will provide decades of service to the residents of this region."
When construction is completed, Greene County Medical Center, which serves patients from several counties in west central Iowa, will provide enhanced health-care delivery services, as well as expanded outpatient services. GCMC is the area's largest employer with over 250 staff, has a payroll in excess of $9 million and generates over $16.7 million in income in the county which results in an estimated $5.6 million in retail sales and $283,000 in local sales taxes.
USDA Rural Development is providing an $18 million direct loan and a $2 million guaranteed loan to help upgrade and expand the facility. Tonsager said that since President Obama took office, USDA Rural Development provided a total of more than $120 million in loans and grants to more than 20 rural health care facilities in Iowa, helping to make needed facility and equipment improvements.
USDA Rural Development's funding continues to have a dramatic impact on rural communities across Iowa. Since 2009, the agency has invested nearly $2 billion in essential public facilities, small and emerging businesses, water and sewer systems, and housing opportunities to help Iowa families and communities build a better future.
Since taking office, President Obama's Administration has taken historic steps to improve the lives of rural Americans, put people back to work and build thriving economies in rural communities. From proposing the American Jobs Act to establishing the first-ever White House Rural Council – chaired by Agriculture Secretary Tom Vilsack – the President is committed to using Federal resources more efficiently to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure and facility programs through a national network of state and local offices. Rural Development has an active portfolio of more than $165 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural areas.
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