The United States has the largest national economy in the world, and the country generates more than 20% of the world’s total revenue. Some of the top businesses in the world are headquartered in the United States, including Apple, Amazon, and Tesla. The United States is also home to some of the biggest stock exchanges, such as the New York Stock Exchange and Nasdaq Exchange. However, this growth is not disrupted evenly in the United States, with some states falling behind. That’s why the U.S. Department of Agriculture (USDA) recently announced that it’s investing over $100 million to increase economic growth in 47 states.
$100 Million Plan
On December 16th, USDA announced its plans to expand housing and water infrastructure access to people living and working in rural America. The $102 million investment will impact 47 states in the US, including Alaska, Colorado, Kansas, Louisiana, Maryland, Michigan, and Ohio. The investment is one of many projects launched under the Biden-Harris Administration. Under this administration, USDA has been creating several opportunities in the United States to increase economic chances and quality of life in the country by creating more jobs and improving facilities such as schools and health care. USDA has also been developing new income streams for farmers and improving internet access in rural communities.
Rural Growth
Rural America is defined as any population or territory that is not situated in an urban area. According to reports, roughly 60 million people, which equates to one in five Americans, live in rural America. Even though USDA’s investment highlights the lack of growth in rural states, that doesn’t mean there isn’t any growth contributing to the American economy. For example, states like Michigan and Ohio are seeing growth in several areas. Michigan has the 5th largest advanced manufacturing industry in the United States, employing over 65,000 workers. Michigan also ranks in the top 10 in the country for aerospace manufacturing.
Likewise, Ohio is growing in various industries, including iron, steel, and iGaming. Ohio produces more than 14 million tons of steel annually, and the Ohio iGaming market is attracting several businesses, including Bally Bet, an online sportsbook launching in January 2023. Bally Bet is a sports betting partner of the Cleveland Browns, and this site has Bally Bet Ohio promo codes as well as many more. By mid-2023, many people expect Ohio to be considered one of the leading sports betting industries due to this increased attention.
Still, even though there is growth in some regions of rural America, more development is needed, and the $102 million investment by USDA will hopefully deliver this. Through this investment, USDA will create 11 programs, such as grants for socially disadvantaged groups, emergency community water assistance, rural community development initiative, and water and waste disposal grants to alleviate health risks on tribal lands and colonies.
As 2022 comes to an end, organizations will start looking at how they can improve. The recent announcement from USDA is a key example of this.
