FOR IMMEDIATE RELEASE 10/11/2016 Contact: Kathlyn Terry, Executive Director 276-623-1121 firstname.lastname@example.org
Appalachian Sustainable Development (ASD) receives $50,000 from CoBank
Abingdon, Virginia, October 11, 2016 – Appalachian Sustainable Development, a local non-profit committed to transitioning Appalachia by supporting local agriculture, exploring new economic opportunities and connecting people to healthy food, today announced it has received a $50,000 contribution from CoBank to support the development of local food value chains in areas impacted by the declining coal industry.
“We truly appreciate the generous support from CoBank,” said Kathlyn Terry, executive director for Appalachian Sustainable Development. “As more partners such as CoBank come together with ASD, we are able to do more to create livelihoods for Central Appalachians that capitalize on the growing interest in local food and agriculture as an economic development driver.”
Appalachian Sustainable Development will use the CoBank contribution to support the Central Appalachian Food Enterprise Corridor in Ohio, West Virginia, Tennessee, Southwest Virginia, and Eastern Kentucky. The five-state, 43-county collaboration will develop a coordinated local foods distribution network throughout Central Appalachia that will connect established and emerging producers of whole produce, value added products and forest botanicals to wholesale markets. The corridor will act as regional economic driver — creating 120 jobs, retaining 250 jobs, and ultimately creating 95 new businesses.
“We are proud to be able to support the important efforts of Appalachian Sustainable Development to fight poverty, protect natural resources, and improve access to food,” said Robert B. Engel, CoBank’s chief executive officer. “Rural communities are a key pillar of the entire U.S. economy and the quality of life for every American; so it is critical that we work to keep these communities vibrant and sustainable.”
CoBank is a national cooperative bank that supports the borrowing needs of U.S. agriculture, rural infrastructure and rural communities.
CoBank is a $125 billion cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 75,000 farmers, ranchers and other rural borrowers in 23 states around the country.
CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.
For more information about CoBank, visit the bank’s web site at www.cobank.com.
About Appalachian Sustainable Development
Appalachian Sustainable Development is dedicated to its mission to transition Appalachia to a more resilient economy and a healthier population by supporting local agriculture, exploring new economic opportunities and connecting people with healthy food. Since 1995, ASD has been serving northeast Tennessee and southwest Virginia. As ASD’s work continues, it will expand its focus to include regional partnerships that build important connections to increase market access and bring necessary resources to the rural communities in its physical footprint. ASD operates programs in sustainable agriculture/food system development and food access.
For more information please visit www.asdevelop.org, Facebook or Twitter.