U.S. Dept. of Agriculture Invests $58.4 Million to Support Local Businesses, Create Good-Paying Jobs and Strengthen USVI and Florida Economy
U.S. Department of Agriculture Secretary Tom Vilsack recently announced the department is investing $58.4 million to help keep resources and wealth right at home in rural Florida and the Virgin Islands through job training, business expansion and technical assistance. Across Florida and the Virgin Islands, USDA invested in 19 projects — $57,384,078 in loans and $1,099,998 in grants.
2022-02-07 12:22:47 - VI News Staff
“For some time, rural America has been at the mercy of an extraction economy, where resources are taken from rural lands only to create jobs and economic opportunity in urban and suburban areas. That’s why USDA is committed to doing what we can to change that extraction economy into a circular economy, where value is added closer to home, so the wealth created in rural areas stays in rural areas. Today’s announcement underlines the Biden-Harris Administration’s commitment to helping transform the economy and bring high-paying jobs and economic opportunities to the people who need it most," Mr. Vilsack said last week.
The funding announced will help people and businesses in diverse communities and industries in Florida and throughout 48 states, the Virgin Islands and Puerto Rico.
Investments in Florida and the Virgin Islands include:
Business & Industry (B&I) Loan Guarantees – CARES Act
- Preferred Rental Company LLC in Hamilton County will use $4,280,000 to provide working capital and refinance existing debt. This investment will help create and save 43 jobs for the community of Jasper, Florida.
- CITRAPAC Inc. in Highlands County will use $2,000,000 to provide working capital to help with COVID-19 recovery and support. The loan will assist the company as it navigates through the pandemic and build inventory to supply product to fulfill recently executed agreements with four large national distributors.
- All Craft Marine LLC in Pasco County will use $2,850,000 to provide working capital to assist with COVID-19 recovery and support. The loan will allow the company to continue operations and implement revised business model actions to stabilize production and meet customer demands.
Business & Industry (B&I) Loan Guarantees
- F&R Enterprises LLC in Bradford County will use $9,390,000 to construct a Holiday Inn Express & Suites in Starke, Florida. The funds will also be used to purchase operating supplies and equipment. This investment will help create and save 27 jobs for the community.
- RV Crazy Inc. in Brevard County will use $408,700 to refinance existing debt and provide working capital for a RV park located in Mims, Florida. The RV park is located near the Atlantic Coast/Space Coast and welcomes many repeated campers. Amenities include a full-service bath house with laundry, recreation hall, swimming pool and three-acre lake.
- Gulf Coast Hospitality Naples LLC in Collier County will use $4,550,000 to acquire La Quinta Inn & Suites by Wyndham Naples East and to complete improvements to the breakfast/hospitality room, guest rooms, and public areas. The property is a four-story hotel located directly off Interstate 75 in Naples, Florida. Amenities include an outdoor swimming pool, guest laundry facility, free Wi-Fi, free parking, complimentary breakfast and a business center.
- Wash and Go West 192 LLC in Lake County will use $4,350,000 to construct a 4,500 sq. ft. express car wash in Kissimmee, Florida. The proposed car wash will have a 125-foot conveyor wash tunnel, an equipment room, office area, lobby and restrooms. The facility will be equipped with two canopy-covered automatic pay stations and 22 vacuum stations. This investment will create 17 jobs for the community.
- Skyway Classics LLC in Manatee County will use $3,996,900 to refinance a bridge loan that was used to construct the company headquarters. Skyway Classics is one of the fastest growing online consignment classic and luxury auto dealers in the nation. This investment will create 15 jobs for the community of Bradenton, Florida.
- TVASTAR Hospitality LLC in Osceola County will use $9,975,000 to purchase a Comfort Inn hotel which has 197 guest rooms. The hotel is located 1.5 miles from Disneyworld. This investment will create four jobs and save 18 jobs for the community.
- Shon Owens Investments LLC in Sarasota County will use $1,033,478 to refinance debt and consolidate businesses including Pittman Building Supply, Security Fence, Owen's Ventures, Blue Diamond Car Wash, Shon Owens Investments and Jay Funeral Chapel. The funds will also be used to acquire the real estate on which Jay Fitness Center is located. This investment will save 50 jobs for the community.
- Central Wholesale Inc. in St. Thomas, Virgin Islands will use $4,450,000 to purchase a building and open a second location. The new 16,000 sq. ft. location is near the cruise port and well-populated areas of Estate Thomas, Havensite and Frenchman's Bay. The store will provide tourist items for visitors from the cruise port.
- Tramway Properties LLC in St. Thomas, Virgin Islands will use $5,000,000 to refinance a real estate debt and provide working capital. The project consists of a gondola skylift, skyride to Paradise Point and providing transportation to passengers on Flag Hill in St. Thomas. Paradise Point is a popular location with restaurants and retail shops that provide panoramic views of the harbor at 700 ft. elevation.
- Abacus International LLC in St. Croix, Virgin Islands will use $5,100,000 to purchase equipment for the company.