Newport, NH – Congresswoman Annie Kuster (NH-02) today announced that RDS Machine, a high tech manufacturing firm in Newport, has received a $4 million loan from the U.S. Department of Agriculture that will help the company to preserve nearly 70 jobs for the region. 

“As a member of Congress, it is my top priority to help create jobs and opportunity for middle class families all across New Hampshire’s Second District,” Kuster said. “This USDA loan will not only help nearly 70 people to keep their jobs, but it will also help RDS Machine to expand and add jobs into the future. This is great news for RDS and for the Newport region as a whole.”

Headquartered in Newport, RDS Machine manufactures precision components for the aerospace, military, and defense industries, among others. The USDA loan, awarded through agency’s Business and Industry Guaranteed Loan program, will allow company executives to purchase assets of a former division of Premier Precision Group. The new entity will continue to employ 66 workers.

“My partners and I were very impressed with RDS Machine's technical capabilities and are excited about our acquisition of the company,” said Michael Monroe, one of the company partners. “We appreciate USDA Rural Development's loan guarantee, which enabled us to secure the long-term financing necessary to keep the company in its Newport facility while also providing the company with enough flexibility to pursue growth and improvement initiatives."

The USDA Business and Industry Guaranteed Loan program aims to improve the economic and environmental climate in rural communities by providing quality loans that will provide lasting community benefits. Additional information about the Business and Industry Guaranteed Loan program is available here.