Staff from USDA Rural Development today participated in grand opening ceremonies for Studio 21, a business-development center in Estherville. The business suite, at 12 South 6th Street, is located in a building that was recently renovated by the Estherville Industrial Development Corporation. The building also includes open spaces for business collaborations and meetings and has commercial space available for rent.
“We are pleased to play a role in the creation of Studio 21 which will contribute to many future job-creation efforts within the community,” said Timothy Helmbrecht, USDA Rural Development Acting State Director in Iowa. “Our focus is on making strategic investments to help grow the economic engine in rural America.”
USDA Rural Development has been working with Estherville Industrial Development Corporation over the past three years to help fund various aspects of this project.
Estherville Industrial Development Corporation first received a $50,000 business grant from USDA Rural Development in 2014 to assist with building renovations that totaled nearly $150,000. The next year the economic-development corporation received a $25,000 USDA grant to help create a $51,000 revolving loan for businesses in the Estherville area.
And last year it received another $50,000 USDA Rural Development business-development grant to help provide technical assistance to local entrepreneurs. Some of the these funds have helped purchase and install new equipment that will allow for online/tele-meetings between new and emerging entrepreneurs and business-development and industry experts.
“Supporting small businesses and rural communities in Iowa further advances our state’s economic health,” Helmbrecht added. “These USDA Rural Development investments in Estherville will provide important support services and access to capital for rural, small businesses.”
Contact USDA Rural Development
For more information about finance programs available through USDA Rural Development, please call the Storm Lake office at (712) 732-1851 Ext. 4. This office serves communities, businesses and residents in Buena Vista, Calhoun, Carroll, Clay, Dickinson, Emmet, Greene, Palo Alto, Pocahontas and Sac Counties.
Further information on programs available through USDA Rural Development is available by visiting 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.