WASHINGTON, D.C (KTIV) -
The White House says there is still much work to be done to come back from what it calls the "Great Recession." But, the president believes his new plan to re-invest in the rural economy could help the country come back.
With continued concerns about the economy, the Obama administration is ramping up efforts to boost business in rural America.
The plan is simple, stick with what works. Last August, the president announced a commitment to rural businesses through the Small Business Investment Company, or SBIC.
This fiscal year, alone, the SBIC doled out $400-million. Through 2016, the SBIC will invest $2-billion more in hard-hit areas of the country.
President Barack Obama said, "What we can do is to target particular communities that are in need and the knowledge that people have about those local communities what the advantages are, what businesses can work, what's needed is gonna be a lot better than something just coming out of Washington."
Communities like Orange City and Sioux Center, Iowa, which will watch AdvancePierre Foods, and Nemschoff Chairs close putting 400 people out of work.
Specifically, Nemschoff's parent company blamed the closure on the bad economy, uncertainty caused by the Health Care reform Law, and new federal regulations.
When I asked the president to comment, he said the only ones impacted by the health care bill, are insurance companies, who are required to make things like preventive care, and mammograms, available to all Americans.
