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Strategic Objective
Enhance Rural Prosperity Including Leveraging Capital Markets to Increase the Government’s Investment in Rural America
Strategic Objective
Overview
Prosperous rural communities are those with adequate assets to fully support the well-being of community members. USDA helps to strengthen rural assets by building physical, human and social, financial, and natural capital. To achieve maximum impact, USDA will leverage resources across the Department and beyond; collaborate on cross-agency efforts such as Promise Zones and the White House Rural Council, and support community and tribal efforts to form regional strategies. USDA targets funds through strong analytics, grass roots support, and asset-based strategies. Addressing the needs of economically distressed regions is a top priority; The Strikeforce Initiative coordinates USDA’s rural development, agriculture, and conservation efforts in high poverty communities.
Physical Capital
Through loans, grants, and technical assistance, the Department will provide support for decent housing and homeownership; health care, school, library, and safety investments; and broadband infrastructure in unserved and underserved areas. USDA also supports utility deployment of smart grid, renewable energy, energy efficiency, and carbon capture and storage for maintaining reliable electric systems in rural communities. Construction of electric, telecommunications, and water and waste system infrastructure and of farm storage facilities are also a priority for USDA.
Human and Social Capital
To assist rural residents to find jobs and start small business, USDA will provide educational opportunities, job training programs, and technical support and tools. For youth, USDA promotes non-formal education programs, 4-H, and other youth development programs to transfer knowledge and develop leaders. The Department supports job corps centers and youth corps programs through the America’s Great Outdoors initiative. Human and social capital formation is also assisted by USDA funding and oversight of rigorous agricultural research, education, and extension programs.
Financial Capital
To help build financial capital, USDA will undertake a variety of efforts. The Department will pursue public -private partnerships including by structuring investment in rural communities to attract capital from third-party investors. USDA will participate in marketing efforts to reach national lenders (capital markets) and leverage USDA resources with private capital. USDA programs will provide business and industry development opportunities to develop a local economy and create well-paying jobs. To facilitate strategic decision making to support livable communities, USDA will provide economic analyses and promote successful economic development models. USDA will also provide equitable access to capital for rural minority farmers and business owners and target outreach to underserved and minority populations.
Natural Capital
Clean air, clean water, productive farmlands, and outdoor recreation opportunities result from USDA’s efforts working with partners and producers in our national forests and on working lands. Goal 2 of this strategic plan provides a detailed look at USDA’s contributions to natural capital.
Read Less...Progress Update
ACHIEVEMENTS: In FY 2015 USDA continued its record level of investment in rural America and the rural communities by investing in essential community facilities, providing loans for rural small business, helping rural families buy or repair a home, and helping to ensure communities have access to critical infrastructure.
CHALLENGES: While rural communities are diverse and their economic challenges vary based on the condition of the industries that drive their economies, generally speaking, for more than a decade, those that rely heavily on the manufacturing and agricultural industries have struggled to remain competitive in the global economy. Furthermore, rural areas typically have underdeveloped public services that make it difficult to attract or retain businesses. The persistent lack of well-paying job opportunities and the related local tax base ramifications place many rural county and municipal governments under great stress.
