Monticello Live

U.S. Representative Mike Ross (AR-04) along with U.S. Senators Blanche Lincoln and Mark Pryor today announced that the Monticello Economic Development Commission will receive a $98,000 Rural Business Enterprise Grant from the United States Department of Agriculture’s Rural Development Program. The money will be used to renew a revolving loan fund that targets low-income, potential entrepreneurs in southeastern Arkansas. The funds are expected to create nine jobs in the community.”Small businesses employ about half of all U.S. workers and create 60 to 80 percent of new jobs each year in this country,” said Ross. “This critical federal investment will help boost small business growth in Monticello as we work together to pull through this economic recession and put our area back on a path to long term economic stability.”

“Small businesses drive our local economies, and I’m pleased to see the federal government award these funds to the Monticello community,” said Lincoln. “Not only will this grant support small business owners, it will also promote economic development. I remain committed to ensuring that Arkansas’s small business owners and entrepreneurs have access to the resources they need to be successful and achieve their goals.”

“In this harsh economic climate, many businesses are struggling just to survive. It is even more difficult for new businesses to get off the ground, no matter how promising they may be. These federal funds will help Monticello entrepreneurs turn smart ideas into reality, creating jobs and economic growth in the community,” Senator Pryor said.

This entry was posted on Monday, June 15th, 2009 at 5:20 am and is filed under Cornerstone Coalition, Sen. Blance Lincoln Column, Senator Pryor's Column. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.