Grassley announces $3 million in grants
WASHINGTON (AP) - U.S. Sen. Chuck Grassley says the U.S.
Department of Agriculture, Office of Rural Development has awarded
eight grants totaling more than $3 million to Iowa through the
Rural Economic Development Loan and Grant Program.
The grants go to rural utility and telephone cooperatives who,
in turn, relend the funds to local businesses to create or retain
jobs.
A loan for $740,000 goes to the Grundy County Rural Electric
Cooperative in Grundy Center to help construct a 15,000 square-foot
facility to be used as a data center. The loan will be for 10 years
at zero percent interest.
The Northwest Telephone Cooperative Association in Havelock will
receive a $500,000 loan to help expand Country Maid, Inc. in West
Bend.
Grants of $300,000 apiece go to cooperatives in Bloomfield,
Estherville, Humboldt, Independence and Marshalltown.
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