Iowa Industry PAC, the political action committee for the Iowa Association of Business and Industry, announced today that it will endorse Terry Branstad in the Iowa gubernatorial race. Kirk Tyler, chair of Iowa Industry, said in a statement that Gov. Chet Culver’s administration hasn’t produced a good environment for businesses during tough economic times and that Branstad would help the Iowa business community more.

Chris Welp, chief operating officer of ING Groep NV’s annuity operations, will be leaving the company to join Aviva USA as its executive vice president of insurance operations. Welp will join Aviva on Aug. 30. “Aviva is a great company with a rich history and a deep commitment to its customers,” Welp said. “I look forward to the opportunity to help Aviva USA evolve its customer experience opportunities, as well as assist the company in growing its life and annuity business.” Welp has worked at ING for 13 years. He also currently sits on the boards of the Greater Des Moines Partnership and the Greater Des Moines Habitat for Humanity.

The Iowa Small Business Loan Program launched today, giving small business owners access to $5 million in low-interest loan money. Business owners can apply for grants ranging from $2,500 to $50,000 starting today with an interest rate of 3.9 percent. If loans are sought through a local lender, the rate drops to 2 percent. The program seeks to award money to business owners who are willing to “upgrade or modernize equipment, realize additional efficiencies in their supply chains, improve their distribution and transportation margins, reduce facility costs through increased energy efficiency, and leverage other sources of business financing,” according to a release. To read more about the program, click here.

Jerry Borowick has been named managing partner of KPMG LLP’s Des Moines office, the firm announced Monday. Borowick has spent 26 years with KPMG and, as managing partner, will work on growing the Des Moines branch and “Employer of Choice” initiatives to keep people with the company.

Construction spending in the United States during June rose 0.1 percent to a seasonally adjusted annual rate of $836 billion, but was still down 7.9 percent from June 2009. Public construction spending increased in June by 1.5 percent while private spending fell by 0.6 percent.

Manufacturing is starting to increase at a slower rate in the U.S. economy, the Institute of Supply Management’s manufacturing gauge showed Monday. The forecast fell from 56.2 in June to 55.5 in July. Any forecast above 50 shows signs of growth. “There’s been some easing in momentum, although demand is still growing,” Michael Moran, chief economist at Daiwa Capital Markets, told Bloomberg. The new orders gauge is “signaling a slower pace of growth, though it still suggests expansion in the economy.” Read more.

Former Federal Reserve Chairman Alan Greenspan said Sunday that he has worries that a drop housing prices may cause a “double dip” into another recession. “It is possible if home prices go down,” Greenspan said on NBC’s “Meet the Press.” “Home prices, as best we can judge, have really flattened out in the last year.” For two months in a row, home prices have fallen, according to the National Association of Realtors. Read more.