DES MOINES, Iowa, Oct. 26, 2020 – The Trump Administration, along with U.S. Department of Agriculture (USDA) Rural Development State Director for Iowa Grant Menke, today announced that the USDA is investing over $390,000 to assist five Iowa communities in supporting small business development. These funding awards were made through USDA Rural Development’s Rural Business Development Grant (RBDG) program.
“Rural Iowa communities depend on small businesses—it’s the cornerstone for these communities to not only survive but thrive,” said Menke. “Through the Rural Business Development Grant program, Rural Development fosters growth and expansion leading to increased income for rural small businesses. Under the leadership of President Trump and Agriculture Secretary Perdue, USDA continues to work tirelessly to be a strong partner to rural Iowa in building stronger and healthier farms and communities, because we know when rural America thrives, all of America thrives.”
In Iowa, five (5) communities have been selected to receive a total of $391,347 in RBDG funding:
- City of Burlington, Iowa, has been selected to receive a $35,500 grant. The investment will be used to provide technical assistance for the City of Burlington. This project will help to develop an action plan of target opportunities for redevelopment and revitalization, as well as fund various business opportunities and enterprise projects that serve Rural Areas.
- Clarinda Economic Development Corp. in Clarinda, Iowa, has been selected to receive a $50,000 grant. The investment will be used to enhance a revolving loan fund, which will contribute to the development of small and emerging businesses, as well as increase sustainability and income, and create jobs.
- Winneshiek County Development Inc, in Decorah, Iowa, has been selected to receive a $64,500 grant. The investment will be used to provide economic development in Decorah, Iowa. Winneshiek County Development, Inc. will provide assistance in development of a new childcare facility, including site selection and architectural design and development work.
- Ottumwa-Wapello County Solid Waste Commission in Ottumwa, Iowa, has been selected to receive a $142,347 grant. Project funds will assist the City of Ottumwa by enlarging an access road to the industrial park. This enterprise project has a reasonable likelihood of resulting in the development of small and emerging businesses.
- Decatur County Development Corporation in Leon, Iowa, has been selected to receive a $99,000 grant. The investment will be used to capitalize a revolving loan fund in Decatur County, Iowa. Decatur County Development Corporation, a local non-profit entity, has successfully made loans to 10 small businesses creating 10 jobs in the county. With additional revolving loan funds, projects in Decatur County will have funds available to make loans to at least three small and emerging businesses and estimates more than three jobs will be created.
USDA is investing in these rural Iowa projects through the Rural Business Development Grant (RBDG) program. RBDG funds must be used on projects to benefit small and emerging businesses in rural areas as specified in the grant application. Uses may include training and technical assistance, such as project planning, business counseling/training, market research, feasibility studies, professional/technical reports, or product/service improvements. Grants are awarded through a national competition—each fiscal year, applications are requested through a notice published in the Federal Register and through an announcement posted on Grants.gov.
Interested parties should contact their USDA Rural Development Iowa Office for information about additional funding, application procedures and eligibility details. More information is available at the following link: Rural Business Development Grants.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas.
For more information, visit rd.usda.gov/ia or call (515) 284-4663. Follow us on Twitter @RD_Iowa.
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