The U.S. Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant Program director recently announced $3.6 million in federal funding to bolster economic growth and emergency services, including $2 million for projects in the region. Deputy State Director Henry Kummerer named Corn Belt Power Cooperative and Raccoon Valley Electric Cooperative (RVEC) as two of Iowa’s six recipients. RVEC will receive $1 million in the form of a pass-through to Iowa Corn Processors (ICP) near Glidden, which will use the money to replace outdated equipment and overhaul the facility’s packaging line. ICP is a milling operation that processes a significant volume of grain from local farmers into grits, meal, flour, and more. Corn Belt will also serve as a pass-through for a $1 million loan, also benefiting ICP. When completed, the project is expected to add five new jobs at the site and promote economic development in and around Glidden. Projects in Butler, Decatur, and Webster counties were also chosen as recipients of the remaining $1.6 million in grants and loans.
Iowa Corn Processors To Benefit From $2 Million USDA Rural Development Loan
