USDA Rural Development awards funding to six Iowa businesses

by | May 6, 2016 | 5 Ag Stories, News

by Ben Nuelle

USDA Rural Development?s Rural Business-Cooperative Service Administrator Sam Rikkers visited Des Moines Friday. Administrator Rikkers awarded money to six rural Iowa recipients most being rural electric cooperatives.

Bill Menner is State Director of USDA Rural Development for Iowa. He says this money will assist local community projects.

?I understand that a couple of them deal with local hospitals. One deals with a local school district and then there is a couple of other community projects. This is a really valuable program and to have the administrator coming to Iowa to make the announcement for the entire nation is a big deal.?

Menner says Iowa is the number one state in the country using USDA Rural Development programs.

?Over the years, we?ve done more than 200 projects. USDA has provided over $82 million in funding but that $82 million in zero percent loan money has leveraged another six million in investments. That ultimately has led to the creation or retention of over 15,000 jobs and helped established 50 revolving loan funds. When I say this is a really valuable program for Iowa, the numbers bare that out.?

USDA will fund projects in 26 states as part of today?s funding announcement.

Earlier in the day, Administrator Rikkers participated in a Quadrennial Energy Review Meeting at the State Historical Museum of Iowa.