WASHINGTON, June 29, 2011 ñ Senator Tom Harkin (D-IA) Wednesday announced $2,050,000 in loans and grants for six projects aimed at rural business expansion and job creation from the United States Department of Agriculture (USDA) Rural Development’s Rural Economic Development Loan and Grant Program. |WASHINGTON, June 29, 2011 ñ Senator Tom Harkin (D-IA) Wednesday announced $2,050,000 in loans and grants for six projects aimed at rural business expansion and job creation from the United States Department of Agriculture (USDA) Rural Development’s Rural Economic Development Loan and Grant Program. These funds come from a program funded through fees paid on loan guarantees and on arbitrage on early loan repayments mostly for Rural Electric Cooperatives through language placed in the last two farm bills by Senator Harkin.
“This funding will give additional support to important job creating projects in several Iowa communities,” said Harkin. “We need to continue to support such initiatives to help rural Americans revitalize their economies and communities and create new job opportunities, especially during these tough economic times when we are seeking to rebuild our nation’s economy.”
Funds will be distributed as follows:
$300,000– a grant towards the construction of a 25,000-square-foot-industrial building for new manufacturing businesses in Atlantic.
$300,000 Butler County Rural Electric Cooperative — a grant to construct a 30,000-square-foot building to entice new business in New Hampton.
$300,000 Central Iowa Power Cooperative ñ a grant to construct a community-owned aquatic center and purchase a building to become city hall in Earlville.
$300,000 Indianola Municipal Utilities ñ a grant to construct an 18,000-square-foot addition to the Blank Performing Arts Center at Simpson College.
$250,000 Manning Municipal Light Plant ñ a grant to purchase Manning Hausbarn Heritage Park campus for an attraction, education and conference center.
$600,000 Winnebago Cooperative Telecomm Association ñ a loan to purchase 27.6 miles of rail and to reconstruct a rail switch to ensure rail service in north central Iowa between Forest City and Belmond
In June, President Obama signed an Executive Order establishing the first White House Rural Council chaired by Agriculture Secretary Tom Vilsack. To better coordinate Federal programs and maximize the impact of Federal investment, the White House Rural Council will work throughout government to create policies to promote economic prosperity and a high quality of life in our rural communities.|
