Pekin to receive USDA Rural Development funding

By WEEK Producer

Credit: MGN Online

Pekin to receive USDA Rural Development funding

June 13, 2014 Updated Jun 13, 2014 at 5:56 PM CDT

PEKIN, Ill. – The USDA has announced Pekin is now eligible to receive Rural Development funding for job creation and development.

“These development tools will help Pekin grow their local economy,” Illinois State Director for Rural Development Colleen Callahan said. “The change in eligibility is important for business owners, but it is equally important for the 34,000 residents in this community. When a town’s business climate improves, so does the tax base that supports local services.”

Pekin had previously been ineligible for Rural Development funding due to its close location to urban areas in Peoria and East Peoria, but was recently able to obtain a reclassification as a "rural" community.

Rural Development will be able to provide loans, grants and loan guarantees to Pekin businesses, public entities and non-profits.