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SAVE THE DATE — NREDA Indy
Save the Date and start planning your visit to Indianapolis, IN for the Annual NREDA Conference July 18–20, 2012. This year's theme is "Crossing the Finish Line" and it is our objective to use this theme to discuss Rural Economic Development strategies to successfully get your organization across the finish line. Preparation, paying attention to detail, and creative luck will determine if you finish and the ultimate goal is to finish in 1st Place.
Learn more about Indianapolis by visiting the Indianapolis Convention & Visitors Association. Located in the mid-west region of the country, summers in Indianapolis are warm, sunny and rather dry, with July temps averaging a high of 89 Degrees F and a low of 69 Degrees F. This is a great way to make a vacation of it with friends or family!
Join your fellow rural development professionals and glean the most from your membership. Also note the discounted room rate deadline is June 25. The hotel block is available for a room rate of $149/night at The Westin Indianapolis, Indianapolis, IN.
More information and the agenda will be made available soon. Watch for details.
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What is the EDA Elimination Act?
Republican, Mike Pompeo from Kansas has introduced legislation (H.R. 3090) to "terminate the Economic Development Administration". The Economic Development Administration was established in 1965 as part of the Department of Commerce. Learn more about Pompeo's view or view, follow or voice your opinion of the official bill on OpenCongress tracking.
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TRI-State Hosted REDLG
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The 2011 Rural Economic Development Loan & Grant workshop hosted in September by Tri-State G&T, in Denver, CO, attracted 42 attendees from electric telephone cooperatives, other consumer-owned utilities and economic development groups in the region. Eight representatives from the USDA were also in attendance. The National Rural Economic Developers Association (NREDA) developed the workshop with sponsorship from the National Rural Utilities Cooperative Finance Corporation (CFC) to provide an opportunity to learn from NREDA experts about the USDA financing program that helps businesses create and sustain jobs and communities improve capacity and facilities. Special thanks also to Tri-State G&T and Sunflower Electric for hosting and providing refreshments. Bruce Nuzum, Vice-President of Finance for the Iowa Area Development Group and Clare Gustin, Vice President of Member Services for Sunflower Electric spoke about strategies for submitting and receiving REDLG awards.
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Youth Engagement May = Community Sustainability
By Craig Schroeder, Director of Youth Engagement, Center for Rural Entrepreneurship
CRAIG SCHROEDER
Craig Schroeder, Director of Youth Engagement with the Center for Rural Entrepreneurship spoke to a full session at Western Telecommunication Alliance. Craig said, "Youth currently in your community may well represent your greatest resource for economic growth and community sustainability. The challenge is to: engage these youth, equip them with the skills and knowledge to be successful, and then support them and their enterprising ventures." His point was also illustrated in the following chart.
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Leveraging Partnerships
President Message
By Eric Phillips, NREDA President
ERIC PHILLIPS |
2011 has been a great year for the National Rural Economic Development Association, and I am pleased to announce a new partnership with Golden Shovel Agency. As many of you are aware rapidly changing technology and social media continue to impact our lives. Cell phones are now smart phones, we are lessening our need to plug into anything anymore, and the Internet constantly introduces new ways to communicate.
For rural economic developers, adapting to change has become an ongoing stress. Balancing what has worked in economic development in the past with these new forms of communication is difficult. And there is precious little time for research, let alone practicing it consistently. But as we know, Economic Development is foremost a function of communication, and rural America can benefit greatly by embracing and adapting to these new tools. From my perspective, economic development professionals should embrace the changing environment and continue to seek innovative strategies to keep rural America front and center in people's mind.
In the January newsletter, I wrote of the importance of partnerships in making bigger things happen and how I look at NREDA as a "partnership" of economic development practitioners. In that spirit, I am excited to announce a new partnership between NREDA and Golden Shovel Agency. Golden Shovel Agency is a web solutions company focusing on Rural Economic Development that has been a big supporter of NREDA. Our partnership will strengthen NREDA's online communication efforts to increase awareness of our organization and better be in communication with our members and stakeholders.
This new partnership will focus on fully leveraging our social media tools and improving search ranking. Our goals will include: (1) increasing the awareness of NREDA to others focusing on rural economic development; (2) be a source for economic development information impacting rural communities; and (3) better communicate with our membership on upcoming events, conference information and NREDA news.
So as 2011 comes to a close, we look forward to working with our partners and furthering our impact on rural economic development in 2012. Most importantly, we will continue to shift our mindset towards embracing the ever changing future.
Sincerely,
Eric S. Phillips, NREDA 2011 President
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REDL&G Vigilance
Rand Fisher, Board Director, NREDA and President, Iowa Development Group
One of rural America's most reliable and beneficial economic development tools is the USDA Rural Economic Development Loan and Grant program, commonly called (REDL&G). Since the program's inception over 1550 grant and loan awards totaling over $500 Million have been made to participating cooperatives and eligible entities throughout the country.
REDL&G awards have been responsible for leveraging nearly $3 Billion for a broad range of rural economic development projects strengthening the nonprofit sector as well as traditional business and industry. The REDL&G tool in the hands of cooperatives and NREDA professional developers has helped make possible a wide range of projects, including such things as: business incubators, health care facilities, industrial parks, value-added cooperatives, manufacturing plants, education and job training. Collectively these projects have been responsible for creating and retaining nearly 54,000 jobs in rural America.
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Rural Broadband: Essential to Prosperity. Vital to America
By Wendy Mann, NTCA
High-speed broadband Internet access has become today's essential service, but new government rules being proposed by the Federal Communications Commission (FCC) could impact your access to broadband Internet service. You can help by lending your voice to the debate. At the onset of telephone service back in the 1950s, the federal government created a universal service policy to ensure that all Americans—including those in rural areas—have access to affordable communications services. The government decided these were essential services that required financial support to build and maintain. As a result, it created something called the Universal Service Fund (USF).
Many rural companies have been the recipient of USF and invested millions of dollars over the years to build advanced networks to meet the needs of customers. They've done this with the understanding that the government would continue to support their efforts through USF. Without receiving support from the federal government, it would be impossible for them to maintain their existing infrastructure as well as expand their capabilities to meet customer needs in the future. As with the national highway system, the information highway costs money to sustain.
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RTFC Concerns for Rural Telcos
Source: RTFC Newsletter, Capital Connections, August 18, 2011- Published with permission from RTFC.
The Rural Telephone Finance Cooperative (RTFC) provides financing to rural commercial and cooperative telecommunications systems. In August, RTFC representatives held an ex parte meeting with Federal Communications Commission (FCC) staff to discus RTFC's concern about how the commission's proposed modifications to the Universal Service Fund (USF) and intercarrier compensation (ICC) regimes could create unintended consequences for the financial strength of rural telcos and their ability to access capital. Senior Vice President for RTFC, Larry Zawalick said, "We are concerned that the commission's proposals will have a significant negative impact on the financial profile of our members. Relatively small changes to the USF and ICC cost recovery structures could create large revenue deficiencies for individual telcos, impairing their ability to internally generate funds for capital expenditures and meet their financial requirements. A weaker financial profile, in turn, would make it difficult for telcos to access debt capital, further limiting their ability to invest in the vital infrastructure necessary to serve rural America."
In its presentation to the FCC, RTFC explained that if telcos fail to maintain key financial ratios, there will be a greater likelihood of loan covenant breaches and payment defaults. Additionally, if established metrics of credit worthiness cannot be satisfied, RTFC members would have difficulty accessing needed financing for capital expenditures. RTFC emphasized that capital markets and private lenders "would react positively" to the type of regulatory certainty and cash flow stability that would result from FCC adoption of the rural associations' USF and ICC proposals.
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USDA Funds Biodigester Projects: Produce Energy, Reduce Pollution
Source: Press Release, October 26, 2011
In a press release in late October, Agriculture Secretary Tom Vilsack announced that USDA is funding anaerobic digester projects in seven states to encourage renewable energy production and reduce greenhouse gas emissions and farm-based pollution. Of the 16 projects announced nationwide, Ohio is receiving funding for five — more than any other state in the union. The announcement was made on the Secretary's behalf by Under Secretary for Rural Development Dallas Tonsager during a trip to Wisconsin.
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2012 NREDA Trainings/Events
SAVE THE DATE:
• NREDA Strategic Planning Session
April 2-3, 2012
Brunswick Electric Membership Corporation, Shallot, NC
• 2012 NREDA Annual Conference
July 18-20, 2012
The Westin Indianapolis, Indianapolis, IN
• 2013 NREDA Annual Conference
July 17-19, 2013
The Driskill Hotel, Austin, TX
OTHER ALLIANCE EVENTS:
• IEDC Leadership Summit
January 29-31, 2012
San Antonio, TX
• NCTA Annual Meeting & Expo
February 12-15, 2012
San Diego, CA
• 2012 NRECA TechAdvantage Conference
March 6-9, 2012
San Diego, CA
• IEDC Federal Economic Development Forum
March 18-20, 2012
Alexandria, VA
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Welcome New Members
Heather Floyd
Arizona's G&T Cooperatives/Arizona Electric Power Cooperative
Benson, AZ
Geoff Oldfather
Arizona's G&T Cooperatives/Arizona Electric Power Cooperative
Benson, AZ
Rob Fillion
Smoky Hill Development Corporation
Ellsworth, KS
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Fires Rally Community Outpouring
Sources: Bluebonnet Electric Cooperative Blog
Bastrop County Texas is an example of how disasters and rural care, concern and pride can positively influence rural communities and areas as they overcome the challenges left behind.
Over Labor Day weekend, wildfires swept through Bastrop County, Texas, population 71,700, which left thousands without power and miles of land damaged and loaded with debris. While the wildfires have been contained and power has been recently restored, Bluebonnet Electric Cooperative and its contractors continue to remove equipment, trees and debris damaged by the fires. More than 1500 homes were destroyed as a result of the fires and related damage.
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Alliance Partner Spotlight
Alliance Partner, National Rural Utilities Cooperative Finance Corporation
Dulles, VA | 800-424-2954 | website
CFC is a member-owned, nonprofit cooperative that was organized in 1969 to raise funds from the capital markets to supplement the loan programs for electric cooperatives offered by the Rural Utilities Service (RUS), previously Rural Electrification Administration (REA). Today, they are the premier market lender for the nation's electric cooperatives. CFC provides financing and related services to RUS borrowers and non-borrowers alike. Loans help members acquire, construct and operate the utility infrastructure needed to deliver services that improve the quality of life in rural areas. CFC also provides credit enhancements, including letters of credit and guarantees of debt obligations, for members.
CFC's vision is to be our owners' most trusted financial resource. CFC's mission is to bridge the financial needs of the rural electric network with the expectations of the global financial markets, one cooperative at a time. CFC's values are service, integrity, and excellence.
Together, CFC and its affiliates, the National Cooperative Services Corporation (NCSC) and the Rural Telephone Finance Cooperative (RTFC), provide financing to 1,460 member organizations and affiliates in 49 states, the District of Columbia and two territories.
At May 31, 2011, total gross loans and guarantees outstanding were $20.4 billion. As of May 31, 2011, members' debt and equity investments in CFC totaled $4.5 billion. For more information, please see CFC's FY2011 10-K Report.
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