Supporting the Community through Economic Development
Singing River Electric supports economic development in the communities it serves in two ways. One is by building infrastructure necessary to reliably support business and industry needs today and tomorrow. Second, the cooperative works aggressively to match prospective economic development projects with U.S. Department of Agriculture rural development loans and grants.
U.S.D.A. Rural Development Loans
The purpose of the Rural Economic Development (RED) Loan and Grant program is to leverage private and other public funding to expand the economic base of rural communities. Under the RED loan program, U.S.D.A. provides loans to local utilities which in turn pass through the loans to local businesses for projects that will create and retain employment in rural areas.
As designated rural communities, the recipient counties were eligible to benefit from the federal funding.
During 2009, George Regional Health System's loan purchased a new state of the art Digital Mammography Unit, which allowed the hospital to better address breast cancer screenings and diagnosis. A new vascular/echo ultrasound unit enabled the hospital to better diagnose and treat vascular and heart disease. Hospital efficiencies and patient care were improved with the purchases of a Picture Archiving and Communication System (PACS) and a Nano Computed Radiography (CR) System. These pieces allowed the hospital to convert all radiology studies to digital information and allow for digital storage.
Greene County benefitted as the rural development loans paid for much needed renovations to the Greene Rural Health Center and helped construct a 15,800 square foot Jones County Junior College Learning Center adjacent to the Greene County Vo-Tech facility.
Mississippi Export Railroad received the final rural development loan and used it to help construct a new 40,000 square foot bulk storage warehouse facility at the Helena Industrial Park.
For more information on the rural development loan program, contact any Singing River Electric office.