Lowden, IA, May 20, 2011 -- Contact: Darin Leach, Public Information Coordinator
Phone: (515) 284-4747 (office); (515) 669-5691 (cell) FOR IMMEDIATE RELEASE
USDA Rural Development Providing F&B Communications with $3.2 Million in Loan and Grant Funds through American Recovery and Reinvestment Act
Groundbreaking Event Celebrates State-of-the-Art Fiber Optic Network that will Soon be Available to Residents and Businesses in Rural Bennett, Lowden and Delmar
LOWDEN, Iowa – May 20, 2011 – John Arthur, an Area Director with USDA Rural Development, was in Lowden today to celebrate the groundbreaking of a new state-of-the-art fiber optic network that will improve communications services in eastern Iowa.
USDA Rural Development is providing financial assistance to F&B Communications as the company brings advanced data, video and voice services to rural customers in the Bennett, Lowden and Delmar exchanges. The project is being assisted by a $1,628,588 loan and $1,609,162 grant made possible through the American Recovery and Reinvestment Act and administered through USDA.
“We are pleased to assist F& B Communications in providing broadband service to communities in eastern Iowa,” said Bill Menner, USDA Rural Development State Director in Iowa. “Building a broadband infrastructure is critical to creating jobs and economic opportunity in rural Iowa. With investments in broadband, we are fostering innovation and bringing more rural communities into the digital age.”
President Obama signed the American Recovery and Reinvestment Act of 2009 into law with a vision of knowing it will help America. The act was designed to jumpstart the nation’s economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century.
One part of this act is to fund projects that will provide broadband access to Americans nationwide. These funds will put people to work constructing new facilities, erecting towers to transmit signals and high speed broadband services installed in homes, businesses and community education, safety and public health centers. But the investments will also foster long-term economic growth.
USDA Rural Development Assisting F&B Communications… page 2
More than $100 million in special ARRA loan and grant funds have been awarded to assist businesses bring enhanced broadband services to rural Iowa.
Contact USDA Rural Development
For more information about finance programs through USDA Rural Development, please call the office located in Tipton at (563) 886-6006 Ext. 4. This office serves communities, businesses and residents in Dubuque, Benton, Linn, Jones, Jackson, Iowa, Johnson, Cedar, Clinton and Scott Counties.
USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities. Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.
Further information on programs available through USDA Rural Development is available by visiting the agency’s web site at www.rurdev.usda.gov/ia.
USDA Rural Development is an equal opportunity lender with a variety of direct and guaranteed rural credit programs involving single and multi-family housing, community facilities, water and sewer development and business and industry programs.
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