Beltrami Electric Awarded USDA Rural Development Grant for City of Walker
Beltrami Electric Cooperative, Inc., was selected to receive a $195,108 grant through the Rural Economic Development Loan and Grant (REDLG) program to help fund infrastructure improvements for the City of Walker’s Industrial Park. U.S. Agriculture Secretary Tom Vilsack made the announcement late last month.
The City of Walker has agreed to accept a 10-‐year, zero percent interest loan for approximately $244,000 from Beltrami Electric’s newly established Revolving Loan Fund (RFL), to help with the expansion of a sanitary sewer system to the city’s industrial park. Beltrami Electric provides electricity to half the park and would benefit from the addition of new, and the retention of current tenants. Projections show that this expansion could create around 346 new jobs in the Walker area by the year 2020 in addition to those already established.
We are thrilled that the City of Walker is the first recipient of these funds from our Revolving Loan Fund,” said Beltrami Electric CEO/GM Lynette Nieuwsma. “We believe that economic development in our region is very important, as it creates jobs and brings growth to the communities we serve. In the future, our RLF will give local organizations the opportunity to expand or enhance their presence in the area, creating jobs and stimulating the area economy.”
Economic development organizations such as Greater Bemidji, the Cass Country Economic Development Corporation (CCEDC) and the Headwaters Regional Development Commission (HRDC) will be informed that Beltrami Electric has money to loan via its RLF as it paid back by the City of Walker.
Beltrami Electric Cooperative is a member-‐owned electric distribution cooperative located in Bemidji, Minn. Established in 1940, Beltrami Electric provides power to almost 17,000 member-‐ owners within a 3,000 square mile service area located in the lakes region of north-‐central Minnesota.