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 Iowa RECs and Telephone Utilities Capture $2.74 Million in USDA Rural Development Funding
Agriculture Secretary Tom Vilsack announced that Iowa rural electric and telephone utilities have been selected to receive $2.74 million dollars in development funds that will help create jobs and new business opportunities in rural Iowa.  The funding announcements are provided under the Rural Economic Development Loan and Grant program, administered by USDA Rural Development. The program provides interest free loans and grants to local utilities that re-loan money to local businesses for projects that will create and retain jobs in rural areas.
IADG rural electric cooperative members and the Iowa Network Services partnership under Ripple Effect received the welcome news for local projects. Five RECs and two independent telephone companies have secured the following awards: • Northwest Telephone Cooperative Association: $500,000 loan; expansion plans of
business in West Bend
• Corn Belt Power Cooperative: $300,000 grant; public infrastructure project
in West Bend
• Grundy County Rural Electric Cooperative: $740,000 loan; construction of a 15,000 sq.ft.
data management center
• Citizens Mutual Telephone Cooperative: $300,000 grant; expansion and equipment
upgrade for the Davis County Hospital
• Southern Iowa Electric Cooperative: $300,000 grant; construct new high school
in the Davis County School District
• Consumers Energy: $300,000 grant; construction of a daycare
facility in the community of Gladbrook
• Iowa Lakes Electric Cooperative: $300,000 grant; assist construction of
a community building
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