on Thursday, July 7, 2011
U.S. Agriculture Secretary Vilsack recently announced economic development funding for 11 states. Iowa led the way with $1.45 million in grants and loans for rural Iowa projects.
"These grants and loans help cooperatives and utilities support local projects that create jobs and improve rural economic conditions." Vilsack said. The loans and grants are being provided through USDA Rural Development's Rural Economic Development Loan and Grant program. Recipients are rural utilities program borrowers that pass the funds to local organizations for projects to retain and create jobs, upgrade public infrastructure, improve service delivery and improve the quality of life for area residents and visitors.
Bruce Nuzum, Vice President Finance for IADG was pleased to announce several IADG members receiving awards for rural Iowa projects. Those projects included:
• Butler County Rural Electric Cooperative: $300,000 grant to construct a 30,000-square-foot building in New Hampton to entice new business to Chickasaw County.
• Central Iowa Power Cooperative: $300,000 grant to construct a community-owned aquatic center and purchase a building to become city hall in Earlville.
• Manning Municipal Light Plant: $250,000 grant to purchase Manning Hausbarn Heritage Park campus for an attraction, education and conference center.
• Winnebago Cooperative Telecomm Association: $600,000 loan to purchase 27.6 miles of rail and to reconstruct a rail switch to ensure rail service in north central Iowa help create jobs in Winnebago, Hancock and Wright Counties.