Agriculture Secretary Tom Vilsack today announced $12.5 million in loans and grants for 39 projects that will help rural businesses in 21 states and the Commonwealth of Puerto Rico. Three of the projects totaling $615,200 in grants are located in rural Iowa.
“Supporting small, rural businesses helps create jobs and helps promote entrepreneurship,” Vilsack said. “USDA Rural Development’s field structure enables our community-based staff to engage with local partners and, in turn, enables these partners to provide their local small businesses and start-ups access to the capital and technical assistance they need to be competitive in today’s global economy.”
In Iowa, Corn Belt Power Cooperative (Humboldt, Iowa) is receiving two $300,000 USDA Rural Economic Development Grants. The grants will be used to assist in upgrading E911 communications equipment used by the Humboldt County Law Enforcement Center and to help assist with the renovation and expansion of the City of Garner’s public library.
Also in Iowa, Adams Community Economic Development Corporation is receiving a $15,200 USDA Rural Business Development Grant to conduct a senior housing feasibility study in Adams County.
USDA is awarding $12.5 million in loans and grants through the Rural Economic Development Loan and Grant (REDLG) program, the Intermediary Relending Program (IRP), the Rural Business Development Grant (RBDG) program, and the Rural Microentrepreneur Assistance Program (RMAP) program.
Funding of each award announced today is contingent upon the recipient meeting the terms of the loan or grant agreement.
USDA Rural Development has a strong track record of strengthening rural businesses and economies through its Rural Business-Cooperative Service, which has helped 85,000 rural businesses since the start of the Obama administration.
USDA Rural Development’s funding continues to have a dramatic impact on rural communities across Iowa. Since 2009, USDA Rural Development has invested more than $3 billion on essential public facilities, small and emerging businesses, water and sewer systems, and housing opportunities for Iowa families.
USDA Rural Development can help rural communities and regions grow and prosper by offering a variety of financial and technical assistance programs that encourage the development of strong community and economic development strategies.
This past year USDA Rural Development’s investment in Iowa helped create or retain more than 1,000 jobs, aided 2,400 families in buying their own homes and assisted more than 50 communities as they made improvements to their facilities, services and infrastructure.
Contact USDA Rural Development
For more information about finance programs available through USDA Rural Development, please call (515) 284-4663 or visit the agency’s web site at www.rd.usda.gov/ia.
USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities and areas. Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way - strengthening America’s economy, small towns and rural communities.