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USDA launches Open Prairie Rural Opportunities Fund

The USDA is launching a new program in an effort to revitalize and rebuild the rural economy.

Ag Secretary Tom Vilsack says the Open Prairie Rural Opportunities Fund provides $100 million as part of the Rural Business Investment Company (RBIC) that USDA helped create in 2014.

“Once it’s fully subscribed we’ll be investing in precision agriculture, data management systems and more efficient production systems to encourage greater productivity.”

 He tells Brownfield capital has already been generated through RBIC.

“Which was Advantage Capital.  They’ve already invested $33 million in five businesses throughout the country.  So we’re excited about this opportunity to expand investment in rural opportunities.”