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News Release
Release No. STELPRD4020744
ContactDarin Leach515-284-4747
Printable Version  Printable Version
(MAY 22, 2013) AGRICULTURE SECRETARY VILSACK ANNOUNCES INVESTMENTS TO PROMOTE BUSINESS DEVELOPMENT, CREATE JOBS IN 11 STATES
Two Projects in Iowa Each Receiving $1 Million Loans

Washington D.C., May 22, 2013 -- Agriculture Secretary Tom Vilsack today announced that loans and grant funds will be provided to applicants in 11 states to support businesses, improve the quality of medical care, and create or save hundreds of jobs. Two projects are located in Iowa. Funding is provided through USDA’s Rural Economic Development Loan and Grant program.

The United States Department of Agriculture (USDA) remains focused on carrying out its mission, despite a time of significant budget uncertainty. Today’s announcement is one part of the Department’s efforts to strengthen the rural economy.

“Investing in rural America is essential to continuing the economic revitalization we are seeing today,” said Vilsack. “The funding announced today will help support the Obama Administration’s vision by providing our rural communities with resources to support small businesses, improve public facilities, and create new, sustainable jobs.”

Funding of each recipient is contingent upon the recipient meeting the conditions for the grant or loan. For a complete list of recipients announced today please visit www.usda.gov.

The Iowa projects include:

Interstate 35 Telephone Company (dba Interstate Communications) (Truro)

$1,000,000 loan

Project will assist in the construction of a 25,000 square-foot distribution center for C&L Companies, LLC in rural Warren County. C&L Companies is a manufacturer of after-market motorcycle component parts for the motocross and recreational vehicle industries. This project will assist in creating 14 new jobs and assist in retaining seven.

Central Iowa Power Cooperative (Cedar Rapids)

$1,000,000 loan

This project will assist Southwestern Community College in the construction of a 75-resident dormitory on its campus in Creston. This project will assist in creating six jobs.

About USDA Rural Development

This past year USDA Rural Development’s investment in Iowa helped create or retain more than 1,600 jobs, aided 2,400 families in buying their own homes and assisted more than 60 communities as they made improvements to their facilities, services and infrastructure. 

USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities and areas.  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.

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 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 a portfolio of programs designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.

USDA has made a concerted effort to deliver results for the American people, even as USDA implements sequestration – the across-the-board budget reductions mandated under terms of the Budget Control Act. USDA has already undertaken historic efforts since 2009 to save more than $828 million in taxpayer funds through targeted, common-sense budget reductions. These reductions have put USDA in a better position to carry out its mission, while implementing sequester budget reductions in a fair manner that causes as little disruption as possible.

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Last Modified:03/20/2014 
 
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