Under the Rural Economic Development Loan and Grant program, USDA provides grants to local utilities which use the funding to establish revolving loan funds. Loans are made for projects that will create or retain jobs in rural areas. Of the loans awarded, Central Iowa Power Cooperative will receive $702,000 as a zero-interest pass-through loan to Blue Grass Building Corporation. Blue Grass will purchase the Wausau Building at the Blue Grass Industrial Park and make the necessary improvements to the building. The 93,000 sq ft. building will then be leased to Precision, Inc. for an expansion of their idler product line.

Alec Turner, President of Blue Grass said, “This is a great project and asset for our community and region. Precision Pulley has been a tremendous community partner for a number of years, and we are pleased about their expansion.”

“The Precision project not only creates additional jobs in our community, but also creates additional revenue for local services providers, especially Southwest Iowa REC who provides utilities for the industrial park,” said Donna Hogan, President of the Adams Community Economic Development Corporation. “Our Industrial Committee has worked for several months on this project, and we’re delighted that this expansion can happen here in Adams County.”

“We are excited about our expansion project in Corning,” said Jeff Bokhoven, Manager of Manufacturing Services. “Working with the Adams Community Economic Development Corporation and Blue Grass Building, Inc. we are able to expand into a larger space allowing us to add 10 – 12 jobs in the near future. We appreciate the support, knowledge and leadership provided by ACEDC and Blue Grass which allows us to tap into local, private and governmental resources to create opportunities for growth.”

Precision Pulley and Idler (PPI) was founded in 1977 with the goals of providing high-performance conveyor components and competitive pricing, both combined with unparalleled customer service. They opened their first plant in Corning in 1986-87.
 

WASHINGTON, June 29, 2011 – Agriculture Secretary Tom Vilsack today announced the selection of 21 utilities in 11 states for loans and grants to help rural businesses expand and create jobs.

"These loans and grants help cooperatives and utilities support local projects that create jobs and improve rural economic conditions," Vilsack said. "USDA is proud to be a partner in the effort to bolster these cooperatives and help them win the future by increasing the value and appeal of the products and services they deliver."

The loans and grants are being provided through USDA Rural Development's Rural Economic Development Loan and Grant program. Recipients are rural utilities program borrowers that pass the funds to local organizations for projects to retain and create jobs, upgrade public infrastructure, improve service delivery and improve the quality of life for area residents and visitors.

Central Iowa Power Cooperative was awarded a $300,000 grant to construct a community-owned aquatic center and the purchase of a building to become city hall in Earlville, Iowa.

This announcement, by Secretary Vilsack, is just one of more than $12.3 million in economic development loans and grants. For the complete story and list of funded projects, please select this link.

Source: www.usda.gov

Due to the current condition of the Opera House, performing artists have had to use other local venues for productions such as the high school theater, churches, and the community center. Although these venues are functional, they are limiting and often distract from the performances. The restoration will provide a 400 seat theater with built in flexibility and restored historical charm and a large meeting room on the main level that could be used for a variety of functions (i.e. receptions, special exhibits, workshops). The neighboring 2nd story building was acquired to expand dressing rooms and provide for an off-site mechanical room for the HVAC.

CIPCO and Southwest Iowa REC loaned $200,000 each for short term construction loan financing that is necessary to begin the historical preservation. On April 11, 2011 the Corning Opera House and Cultural Center hosted a press conference and reception at the property to celebrate the culmination of all the funding necessary to complete the project. The renovation is targeted to be completed by February 2012.
 

Valley of the Moon Commercial Poults is excited to become a part of the agriculture community in Iowa. Locating in Osceola makes them centrally positioned to the turkey farmers in the Midwest, Eastern and Western United States. This state-of-the-art hatchery will be the world’s largest turkey hatchery, hatching approximately 50 million turkeys a year. The 87,000 square feet building is expected to be completed in December of 2011. The hatchery is expecting to employ up to 50 people along with contract production farms also being added to the rural community.
 

4/4/2011 Press Release courtesy of Iowa City Area Development

Branstad/Reynolds to Attend Iowa’s First-Ever “Shovel Ready” Certification

Already a site of expanding companies, the 85-acre Tipton Business Park is now the first property in the state of Iowa to receive “Shovel Ready Iowa Certification,” and that designation will be recognized by Governor Terry Branstad and Lieutenant Governor Kim Reynolds during a 2:00 P.M. ceremony on Monday, April 18 in the heart of Tipton.

A shot in the arm for regional economic development, Shovel Ready Iowa Certification is an independent, third-party certification program designed to reduce risk for local communities and property owners as well as companies researching the seven county Corridor Alliance region for business location or expansion.

Sites that receive this certification must meet or exceed multiple criteria and standards regarding the development potential for commercial or industrial facilities in one of five certification categories: General Manufacturing, Light Industrial, Rural Industrial, Smart Office or Technology Center.

As a certified Shovel-Ready Iowa site in the Rural Industrial category, the Tipton Business Park has proven to Austin Consulting that it can accommodate an expanding industrial operation on a tight timeline. Such a designation is possible because the Tipton Economic Development Corporation (TEDCO) and the City of Tipton have been investing in the infrastructure of the City and the Business Park for many years.

“Good things come in small packages”, said TEDCO President Jeff Meyer. “Iowa’s rural communities have been and will continue to be an important part of our state’s economy, and an excellent example of small town vitality is the city of Tipton.”

Tipton’s Business Park can accommodate a broad range of industrial investment opportunities by offering a flexible operating environment that supports light assembly and services related to industrial activities.

The April 18th ceremony commemorating the state’s first-ever Shovel Ready Iowa Certification will take place on the Courthouse Square next to the Cedar County Courthouse, just a short walk from Tipton’s Business Park.
 

PANORA, IOWA – Midwest Partnership EDC received a special recognition at its annual dinner meeting Thursday, January 27th, as the Iowa Area Development Group (IADG) bestowed its coveted Silver Shovel Award upon the organization. The Silver Shovel Award honors outstanding leadership, innovation, and achievement in business and community development, as well as collaboration with IADG and its utility partners. IADG is the business and community development leader for Iowa’s rural electric cooperatives, member municipal electric systems and independent telephone companies.

Rand Fisher, IADG president, presented the award to Midwest Partnership EDC executive director Jason White, highlighting numerous accomplishments of the organization, like the regional and statewide leadership by White in a variety of economic development matters, as well as other strategic planning and marketing initiatives for businesses and communities within Adair, Audubon, Greene, and Guthrie counties.

The award also came with a $1,000 check presentation from the IADG Community Foundation, which will allow Midwest Partnership EDC to advance economic development through contributions to local nonprofit organizations.

Midwest Partnership EDC was nominated for the award collectively by the electric cooperatives, municipal electric and independent telephone companies in the four-county region.

Midwest Partnership EDC is the non-profit, collaborative economic development organization formed to strengthen the economic vitality of the communities of Adair, Audubon, Greene, and Guthrie counties in west central Iowa.
 

Bellevue, Iowa located on highway 52 along the Mississippi River, has taken this site, an old gravel pit, and has begun a redevelopment plan. With the necessary infrastructure in place, the plan includes a 5,400 sq. ft. riverfront restaurant. Also in the planning stages is a 64-room hotel and conference center that will include a 4,000 sq. ft. four-season pavilion.

Loras Herrig, City Manager of Bellevue, says “We are a quiet little town that is really seeing some things happen. The Off Shore Business Park will be a great asset for our community and the region.”

The Off Shore Business Park will be provided power by Bellevue Municipal, a member of SIMECA, a CIPCO member system.
 

Consumers Energy, a CIPCO member system located in Marshalltown, Iowa is a recipient of a $300,000 grant to be used in the construction of a daycare facility in the community of Gladbrook, Iowa.