YAKIMA, Wash. -- Snokist Growers announced Wednesday of receiving a $9.6 million Business and Industry Loan from the USDA Rural Development.
The USDA funding is made available through American Recovery and Reinvestment Act of 2009.
"For many years, Snokist Growers and USDA have worked jointly on a variety of projects that benefited our grower owners, employees and community," said Jim Davis, President of Snokist Growers in a statement.
Davis stated the company will use the loan for debt restructure and future capital investments.
"Today's announcement is an example of how the Obama Administration is working to create jobs and rebuild and revitalize rural America to ensure that working people in small communities throughout the country have a brighter future," said Mario Villanueva, USDA Rural Development's Washington State Director.
The Snokist Growers cooperative has over 150 active members with more than 700 employees, and has been operating for over 100 years. Snokist's plant packages several fruits including apples, cherries, pears and prunes for local grocery stores.