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IADG Secures $4.1 Million for Rural Iowa Projects Approaching the midway point of 2007 brought welcome news of recent USDA Rural Development announcements. Iowa Area Development Group (IADG) and their member systems learned of $4.1 million dollars of grants and loans awarded to rural Iowa projects. The USDA Rural Development Loan and Grant program is an economic development tool that provides grants and zero interest loan funding to rural electric and telephone cooperatives for rural projects across the country. Iowa Area Development Group and their member systems to-date have captured nearly 48 zero interest loans and 80 grants totaling 124 successful projects and creating over 9,000 jobs for Iowa.
IADG and Iowa's Rural Electric Cooperatives have long championed this unique rural economic development tool. The USDA awards have amounted to over $37.7 million dollars leveraging over $423 million dollars for rural Iowa companies, manufacturers, communities, hospitals, schools and many other community and business development projects that have made a tremendous impact upon the state's economy.
The latest round of funding announcements will assist the following projects: | Farmers Electric | $300,000 | Hospital Expansion | | CIPCO | $300,000 | Aquatic Center | | Consumers Energy | $300,000 | Community College Dormitory | | Consumers Energy | $300,000 | New Industrial Park Project | | Eastern Iowa Light & Power | $400,000 | Ethanol Plant Expansion | | Pella Electrical Cooperative | $400,000 | Manufacturing Plant Expansion | | Midland Power Cooperative | $740,000 | Manufacturing Plant Expansion | | Coon Rapids Municipal Electric | $300,000 | Assisted Living Facility | | North West Rural Electric Coop. | $300,000 | New Industrial Park Project | | Osceola Electric Cooperative | $300,000 | New Industrial Park Project | | CIPCO | $175,000 | Dentist Office | | CIPCO | $300,000 | Aquatic Center | | Total | $4,115,000 | |
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