FOR IMMEDIATE RELEASE: September 28, 2012
SCHUMER ANNOUNCES BREAD ALONE IN ULSTER TO RECEIVE $4.6 MILLION IN FEDERAL FUNDING FOR NEW BAKERY AND EQUIPMENT
With USDA Loan, Bread Alone Will Increase Bakery and Retail Space
Schumer: This Investment Will Get More Loaves Rising and Grow Local Economy
Today, U.S. Senator Charles E. Schumer announced that Bread Alone, Inc. & Largay, LLC have been jointly awarded a Business and Industry Guaranteed Loan for a total of $4,600,000 from the U.S. Department of Agriculture Rural Development. This funding will be used to acquire a 26,000 square foot vacant facility to renovate into a commercial bakery and retail outlet. Bread Alone plans to install state-of-the-art commercial artisan baking equipment to more fully automate the baking process.
"This funding is the yeast that literally raises the dough, not only for Bread Alone, but for the local community as well,” said Schumer. “I applaud the USDA Rural Development program for making this pivotal investment in an important Hudson Valley business and community partner like Bread Alone.”
USDA Business and Industry Guaranteed Loan funding is part of the USDA Rural Development annual budget. USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life for rural residents. USDA Rural Development fosters growth in homeownership, finances business development, and supports the creation of necessary community and technology infrastructure.