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Industrial And Commercial Loans And Guarantees For New Or Expanding Business Under The Public Works And Economic Development Act Of 1965, James M. Roberts
Industrial And Commercial Loans And Guarantees For New Or Expanding Business Under The Public Works And Economic Development Act Of 1965, James M. Roberts
West Virginia Law Review
In his pivotal primary victory over Hubert Humphrey, President John F. Kennedy pledged that he would lend vigorous assistance to the impoverished coal mining regions of West Virginia to alleviate their economic distress. In fulfillment of this pledge, Congress passed and President Kennedy signed into law in May, 1961, the Area Redevelopment Act in order to "establish an effective program to alleviate conditions of substantial and persistent unemployment and underemployment in certain economically distressed areas." The Area Redevelopment Act created an experimental pilot program within the Department of Commerce to accomplish the above purpose through a system of government loans …