WASHINGTON- Senator Chuck Grassley today said that the U.S. Department of Agriculture, Office of Rural Development has awarded competitive grants totaling $966,250 to Iowa through the Rural Economic Development Loan and Grant Program.
"This money will help create and retain jobs for Iowans and stimulate economic growth in these rural communities," Grassley said.
The Rural Economic Development Loan and Grant Program provides loans and grants to rural utility and telephone cooperatives, who in turn re-lend the loan funds to local businesses to create or retain jobs in rural areas.
The grant funds from the Office of Rural Development will be distributed as shown below.
· Osage Municipal Utilities in Osage will receive a $300,000 grant to help construct a 29,040 square foot building to be used as a public safety center housing the police department, fire department and Mitchell County Emergency Management. This project should retain nine jobs.
· Western Iowa Power Cooperative in Denison will receive a $666,250 grant to help provide a loan to Puck Enterprises to construct a new manufacturing facility and purchasing equipment. This project should create 2 new jobs and retain 15 jobs.