News

USDA Rural Development Awards Announced

posted on Monday, December 10, 2012 in News

IADG was pleased to learn that two additional awards were approved for funding from the USDA Rural Economic Development Loan & Grant (REDL&G) program. One award will allow LDJ Manufacturing to add 35,000 sq. ft. of new manufacturing and warehousing space to its existing facility near Pella. This expansion will enable LDJ to increase manufacturing capacity by nearly three times and add 20 positions. The second award went to Precision Pulley& Idler (PP) to purchase the 100,000 sq. ft. facility they had been leasing in Lenox.

In addition, PPI will expand the building by 20,000 sq. ft., grade a pad for possible future expansion, install a new paint booth and CNC saw and add 15 new employees. Both of these projects were assisted with a $1 million Rural Economic Development Loan (REDL) from Central Iowa Power Cooperative (CIPCO). LDJ is served by Pella Cooperative Electric Association and PPI is served by Lenox Municipal Utilities. Contact Bruce Nuzum, IADG vice president of finance, at bnuzum@iadg.com for more information on utilizing the USDA REDL&G funding tools and programs.