Iowa Ag Connection - USDA Rural Development Invests $45 Million in Iowa for Small Business and Public Works

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USDA Rural Development Invests $45 Million in Iowa for Small Business and Public Works
Iowa Ag Connection - 01/22/2024

The U.S. Department of Agriculture (USDA) Rural Development is investing $45 million across 18 projects, spanning counties including Audubon, Chickasaw, Clarke, Greene, Humboldt, Jackson, Linn, Monona, Montgomery, Muscatine, Pocahontas, Sac, Sioux, Story, and Union.

The funding, announced by Theresa Greenfield, the USDA Rural Development State Director in Iowa, encompasses $1,213,603 in grants and $43,957,700 in loans. These investments aim to foster rural small businesses, provide technical assistance, and support public works infrastructure.

Highlighted projects include:

â€¢ Rural Business Development Grant:

â—‹ Greene County Development Corp. receives a $95,703 grant to offer technical assistance to emerging businesses, advancing economic development and creating jobs.

â€¢ Rural Economic Development Loan and Grant:

â—‹ Colo Telephone Company secures a $2,000,000 loan for Mid-States Material Handling & Fabrication, promoting economic development in Story County.

â—‹ Iowa Lakes Electric Cooperative receives a $279,426 grant for Iowa Central Community College, enhancing economic development in Pocahontas County.

â€¢ Community Facilities Direct Loans and Grants:

â—‹ Loring Hospital in Sac City secures a $37,137,700 loan for a substantial addition, improving medical services in Sac County.

â—‹ Linn County Fire District #3 receives an $820,000 loan for fire station infrastructure, ensuring the safety of rural Linn County residents.

â—‹ City of Villisca benefits from grants for essential equipment, enhancing health and safety in Montgomery County.

These investments underscore the USDA's commitment to rural development, small business growth, and the overall well-being of communities in Iowa. The funding comes at a crucial time, emphasizing the importance of response vehicles and infrastructure for rural neighborhoods, particularly in adverse weather conditions.

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