MN representatives teaming up to encourage rural manufacturing
(ABC 6 News) – U.S. congressman for Minnesota Brad Finstad is working with congresswoman Angie Craig, on a bill to encourage rural manufacturing.
It’s called the Investing in Rural Manufacturing Act. The bill allows the small business administration to offer partial loan forgiveness to businesses that manufacture key critical infrastructure goods in rural areas.
To qualify for the loan a business must establish or expand its manufacturing presence in a rural area.
“We’re trying to be creative in looking at different opportunities to really try to get new blood flowing in that area,” Finstad said. “it’s such a strong economic component of what drives us in southern Minnesota.”
Finstad says the goal is to create more jobs in rural areas.