Piedmont Electric is a cooperative business, which means we do more than deliver electricity. We deliver on a promise to enhance life in the communities we serve by investing in education, supporting essential community services and leading innovative economic development initiatives that bring jobs to rural areas. It’s because of this promise that we began our Community Loan Program back in 2014.
Our Community Loan Program is funded by the U.S. Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant (REDLG) program. It was created to help retain employment in rural areas.
Piedmont Electric partners with the USDA to access the funding and then use it toward projects that will make an impact in rural communities. Since 2012, projects boosted by REDLG funding have supported the creation of about 1,800 jobs in North Carolina.
Since Piedmont Electric began its Community Loan Program in 2014, we have partnered with the USDA to assist with the following projects:
City of Mebane – $1,268,000 for fire trucks and fire station equipment
Bethel Hill Charter School – $360,000 for new building
Eno Fire Department – $285,000 for fire truck
New Hope Fire Department – $168,000 for fire truck
Rural Orange Fire Department – $360,000 for fire truck
Moriah Volunteer Fire Department – $250,000 for fire truck
Caswell County EMS – $360,000 for ambulances
Town of Yanceyville – $750,000 for fire station
In total, Piedmont Electric and North Carolina’s electric cooperatives have contributed $52 million in REDLG funding for exciting regional rural economic development projects. Funding totals are expected to increase as additional projects are approved.
Piedmont Electric currently has several more projects that are pending USDA approval.
We will continue to take a leadership role in supporting initiatives that address the challenges of the future and help make our cooperative communities vibrant places to live and work.