01.10.06

Burr Announces $1.49 Million for Robeson County

Funds to assist with economic development and expanded rural utilities development

WASHINGTON, D.C. - Senator Richard Burr today announced $740,000 in federal funding for the Lumbee River Electric Membership Corporation in Pembroke. The funding will provide loans for rural utilities development. In addition, $750,000 will be given to Robeson County to provide low-interest loans to public and non-profit organizations.

"USDA Rural Development funds are important to creating job growth and economic development in North Carolina," said Senator Burr. "These funds will help Robeson County expand and prosper."

USDA Rural Development funds for the Lumbee River Electric Membership Corporation will provide financing for the construction of the hardware and lumber distribution facility for Pembroke Hardware, Inc. This project is estimated to retain 25 employees and create 25 new jobs over the next two years.

The loan was approved at a rate of 0 percent over 10 years.