WASHINGTON- Senator Chuck Grassley today announced that the U.S. Department of Agriculture, Office of Rural Development has awarded three competitive grants totaling $248,810 to Iowa through the Rural Business Enterprise Grant Program.
"This money will help small and rural businesses create jobs for Iowans and stimulate economic growth in these communities," Grassley said.
· Howard County Board of Supervisors in Cresco will receive $99,900 to help establish a revolving loan fund to assist small and emerging businesses in Howard County. The Office of Rural Development expects ten jobs to be created or saved.
· Poweshiek Iowa Development in Grinnell will receive $99,000 to help establish a revolving loan fund to provide financial assistance to small and emerging businesses. The Office of Rural Development expects ten jobs to be created or saved.
· Southwestern Community College in Creston will receive $49,910 to help support a pilot project titled, "Smart Business Resource Program," which will provide technical assistance and technology transfer activities focused on job creation and retention to small, rural businesses in Adair, Adams, Clarke, Decatur, Montgomery, Ringgold, Taylor and Union Counties. The Office of Rural Development expects thirteen jobs to be created or saved.
The Rural Business Enterprise Grant Program provides grants to public agencies, private non-profit corporations or Indian groups for needed infrastructure, to fund technical assistance needs and to establish or fund revolving loan programs for small and emerging private enterprises that have less that $1 million in revenues and fewer than 50 employees. The project must be located in an area of less than 50,000 in population.