Funding of each award is contingent upon the recipient meeting the conditions of the grant agreement. Grants can finance up to 25 percent of a project's cost, not to exceed $500,000 for renewables, $250,000 for efficiency. For a complete listing of Rural Energy for America Program grant recipients announced today, please click here.

Today's announcement is an example of investments the Obama Administration is making to help create jobs and grow the rural economy. In June, President Obama signed an Executive Order establishing the first White House Rural Council, chaired by Agriculture Secretary Tom Vilsack. The White House Rural Council will work throughout government to create policies to promote economic prosperity and a high quality of life in our rural communities.

Yesterday, President Obama hosted the White House Rural Economic Forum at Northeast Iowa Community College in Peosta, Iowa. The Forum brought together farmers, small business owners, private sector leaders, rural organizations, and government officials to discuss ideas and initiatives to promote economic growth, accelerate hiring, and spur innovation in rural communities nationwide. The President engaged directly with a variety of rural leaders from across the nation to discuss the importance of growing small businesses and strengthening the middle class in rural America.

Since taking office, President Obama's administration has taken significant steps to improve the lives of rural Americans and has provided broad support for rural communities. The Obama Administration has set goals of modernizing infrastructure by providing broadband access to 10 million Americans, expanding educational opportunities for students in rural areas, and providing affordable health care. In the long term, these unparalleled rural investments will help ensure that America's rural communities are repopulating, self-sustaining and thriving economically.

USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure and facility programs through a national network of state and local offices. Rural Development has an existing portfolio of more than $155 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.