USDA invests $16.38 million to strengthen infrastructure, create jobs in rural Iowa
Business Record Staff Aug 31, 2023 | 11:33 am
1 min read time
222 wordsAll Latest News, Economic DevelopmentTheresa Greenfield, Department of Agriculture rural state development director in Iowa, announced that the USDA is investing $13,435,000 in loans and $2,946,000 in grants to five projects in Iowa in an effort to strengthen infrastructure, promote business expansion and create jobs. Among the five Iowa projects, North West Rural Electric Cooperative received a $300,000 grant to assist in the financing of a Promise Community Health Center facility expansion in Sioux Center. Southern Iowa Electric Cooperative Inc. received a $1,640,000 loan through the Rural Economic Development Loan and Grant Program to fund a pass-through loan to Metal Wholesale LLC, which will allow the business to purchase equipment to expand its existing product lines and increase production at its facility in Bloomfield. Southern Iowa Electric Cooperative Inc. also received a $300,000 grant through the Rural Economic Development Loan and Grant Program to expand a revolving loan fund, which will partially finance the renovation and expansion of Van Buren County Hospital in Keosauqua. Grundy Electric Cooperative received a $10 million loan through the Electric Infrastructure Loan and Loan Guarantee Program to connect 271 consumers and build and improve 115 miles of line. The city of Irwin in Shelby County received a $1,795,000 loan and a $2,346,000 grant through the Water and Waste Disposal Loans and Grants program to make water distribution system improvements.