Washington, D.C., Oct 03, 2012 -- USDA Rural Development Deputy Under Secretary Doug O’Brien today announced a $40.1 million USDA loan guarantee to Central Iowa Power Cooperative to make improvements to rural transmission lines throughout Iowa.
“This loan will help ensure that rural areas across Iowa can retain existing businesses, support new ones and have reliable, up-to-date infrastructure,” O’Brien said. “The Obama Administration is committed to helping rural communities prosper.”
USDA funds will be used to build and improve 115 miles of transmission line and make other system improvements. The project will also improve electric services to residents and businesses in 51 Iowa counties.
Secretary Vilsack announced last month that USDA has met its goal to finance $250 million in smart grid technologies in fiscal year 2012. Today’s announcement includes support for $866,000 in smart grid technologies.
“Grid modernization and deployment of ‘smart grid’ technology will increase the reliability and efficiency of electric power generation,” O’Brien said. “Providing reliable, affordable electrical service contributes to stronger rural economies and is the backbone for a prosperous rural America.”
Today’s funding is provided by USDA Rural Development’s Rural Utilities Service. The funding helps electric utilities upgrade, expand, maintain and replace rural America’s electric infrastructure. USDA Rural Development also funds energy conservation and renewable energy projects.
USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities and areas. Further information on programs available through USDA Rural Development is available by calling (515) 284-4747 or by visiting the agency’s web site at www.rurdev.usda.gov/ia.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Tom Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, has an active portfolio of more than $172 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).