Iowa Area Development Groups Honored with USDA National Award
on Thursday, November 5, 2015
Iowa Area Development Group (IADG) received the USDA Abraham Lincoln Honor Award at a ceremony held today in Washington D.C. IADG was honored for expanding rural economic development opportunities in Iowa and across the nation by being a national advocate of USDA’s Rural Economic Development Loan and Grant (REDL&G) Program, as well as other contributions and accomplishments of its rural sponsored economic development mission.
IADG works on behalf of nearly 250 rural utilities in Iowa who support economic development. IADG manages the USDA REDL&G Program application process for these utility partners, who ultimately receive and disburse the USDA funds to projects. In most cases these utility partners also provide matching funds to satisfy the REDL&G Program requirements. Together, IADG and its utility partners have been involved in more than 200 projects in Iowa receiving $82 million in USDA REDL&G Program funding. These projects have also leveraged $635 million in capital investment, led to the creation of 15,000 rural Iowa jobs and established nearly 50 revolving loan funds for rural businesses and organizations to access across the state.
“IADG’s active participation and exemplary success with the USDA REDL&G program stems from a strong desire from our member utilities to support business and community growth in rural Iowa,” said IADG President Rand Fisher. “The USDA REDL&G Program has provided invaluable funding and support for growth in rural areas across the nation. IADG is very pleased to play an important role in the transformational projects and rural revitalization that have taken place as a result of this program and our member supported economic development work.”
The Iowa Area Development Group is the marketing and business development office for nearly 250 of Iowa’s member-owned rural electric cooperatives, select municipal electric utilities and independent telecommunication companies. IADG has assisted with over 2,000 successful business expansions and start-up projects. This growth represents capital investment of more than $10 billion and 50,000 jobs for Iowa. The Iowa Area Development Group was established in 1985 to promote and strengthen rural Iowa development opportunities. Stay connected with IADG news at www.facebook.com/IADG.IA and www.twitter.com/IADGIOWA.