Rural Economic Growth Act of 2003 - Amends the Internal Revenue Code to establish a rural investment tax credit of 50 percent of the present value of new buildings (including rehabilitation projects) and 50 percent of the present value of existing buildings.
Makes a qualified rural employee a member of a targeted group for purposes of the work opportunity credit.
Directs the Secretary of Labor to award grants to eligible entities offering career training to residents of rural areas to assist such entities to improve the job skills necessary for employment in specific industries.