3.1: Economic Opportunities Leveraging the Private Sector

EXPAND ECONOMIC OPPORTUNITIES BY USING USDA FINANCIAL RESOURCES TO LEVERAGE PRIVATE SECTOR RESOURCES AND CREATE OPPORTUNITIES FOR GROWTH

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One of USDA’s core missions is ensuring that rural residents enjoy economic opportunities equivalent to those of other Americans. Credit limitations and other market imperfections sometimes restrain the ability of rural economies to create the jobs and incomes that would allow rural families to thrive and rural youth to remain in their communities. USDA programs serve as capital enhancement tools for rural America by providing access to capital for investment in businesses and economic infrastructure. Through capital enhancement and by implementing energy-related provisions of the Farm Security and Rural Investment Act of 2002 (FSRIA),USDA will facilitate the expansion of economic opportunities in rural areas. The development of the Internet-based economy provides unique opportunities for rural America. Broadband infrastructure greatly helps to mitigate the limitations on business development in rural areas caused by geographical distance and a limited customer base. USDA is providing capital to finance access to broadband service for rural communities. This access is critical to enable rural businesses to participate in the developing global economy. While the impact of USDA’s investment, leveraged with private-sector funds, is significant in rural America, it is currently unmeasured. The Department will implement the Strategic Economic Benefit Analysis System (SEBAS) to measure the impact of USDA business-related programs on improving the rural economy. Once available and developed, it is anticipated that SEBAS data will be a useful tool to Federal policymakers for enhanced strategic planning, policy development and program assessment. If successful, it is anticipated that it may be expanded to cover other programs.

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Indicator:1

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