DES MOINES, IOWA (August 22, 2023) — US Department of Agriculture (USDA) Rural Development State Director in Iowa Theresa Greenfield today announced that the Agency is investing $15,967,000 in loans and $1,124,000 in grants to four projects in four Iowa counties to promote rural economic development, job creation, and health services.
“Rural communities are great places to build a business and raise a family,” said Dir Greenfield. “With the support of USDA and the leadership of the Biden-Harris Administration, communities can leverage these investments to create rural jobs and build a stronger healthcare system for rural Iowans.”
Three projects received funding through the Rural Economic Development Loan and Grant Program.
-Corn Belt Power Cooperative received a $1,232,000 loan to fund a pass-through loan to Pocahontas Community Hospital in Pocahontas County. This project will help enable the hospital to renovate twelve patient-exam rooms, the pharmacy, work/business office reception areas, and to construct a 230 square-foot addition to provide a new public restroom and reception room. Once completed, the project will increase patient-access, assist medical professionals in delivering quality health-care, and promote economic development in this rural area.
-Northeast Missouri Electric Power Cooperative received a $2,000,000 loan to fund a pass-through loan to Sedes Group LLC to purchase and install equipment for a start-up business. This project will provide a material flow system; an extruder; a cutter and feeder; a dryer/cooler; and a separator at a facility in Centerville, Appanoose County, Iowa. Sedes Group LLC is a Limited Liability Company headquartered in Boone County, Missouri, which plans to develop animal-feed and human-grade consumption products using organic and non-GMO soybeans. Once completed, the project is expected to increase employment opportunities for residents of this rural area and promote economic development.
-Hawarden Municipal Utilities received a $124,000 grant to expand a revolving-loan fund. This project will provide financing through the city of Hawarden to five businesses. The project will stabilize and increase local employment opportunities and promote economic development in this rural Sioux County community.
The fourth project was funded through the Community Facilities Direct Loan and Grant Program. Aase Haugen Homes Inc in Decorah received a $12,735,000 loan and a $1,000,000 grant to build a nursing home with assisted-living and dementia-care units. This project will provide updated care facilities to improve critical health services to this Winneshiek County community and the rural surrounding area.
Contact USDA Rural Development
USDA Rural Development has eleven offices across the state to serve the 1.3 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.
To learn more about investment resources for rural areas in Iowa, call (515) 284-4663 or visit rd.usda.gov/ia. If you’d like to subscribe to USDA Rural Development updates, visit our GovDelivery subscriber page.
Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety, and health-care; and high-speed internet access in rural, Tribal, and high-poverty areas.
