A local match amounting to one-third of the grant is also required. The additional funding would allow more communities to participate in this well-established program. The department recently unveiled two new programs designed to assist in the development of the state's rural areas. The grant recipients, in turn, use the funds to make loans to small businesses in need of assistance. The new Regional Marketing Program is designed to enhance the marketing activities of regional development organizations, to call attention to the region's advantages for location of new business facilities and to learn about new and effective ways to market the positive attributes of those regions.
Technology also has a huge impact on today's farm economy.
Information technology has forever changed the face of the world's economy. In the next few years, Missouri communities will either need to become wired for the future or they may cease to be relevant in terms of economic development. We need to ensure that rural Missouri's farms and small businesses can bridge the technology gap in order for them to be successful. The department is currently forming the Missouri Marketplace, which will help Missouri companies establish themselves on the Internet. Technological advances being developed at universities and research institutes in Missouri and around the world also will benefit farmers by adding value to agricultural products.