Open Prairie Rural Opportunities Fund Approved by USDA

The USDA has approved another investment opportunity that they will bring in private money to help boost the rural economy.

Secretary Tom Vilsack said, “The Open Prairie Rural Opportunities Fund is going to help create $100 million of equity financing for things like precision agriculture and data management.”

Vilsack made the announcement at the White House’s Rural Opportunities Conference.

This is the fourth rural business investment company approved by the USDA since 2014.

Vilsack said this is just one example of a comprehensive strategy to help grow rural America.

“We’ve been focusing our approach through strike force. We’ve been encouraging more credit availability through our co-bank commitment of $10 billion and also equity financing through the rural business investment company strategy.”