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Iowa Transportation Commission approves funding for railroads

December 08, 2009

AMES, Iowa – Dec. 8, 2009 – The Iowa Transportation Commission today approved more than $3.3 million in funding for seven rail improvement projects as part of the Railroad Revolving Loan and Grant Program (RRLGP). The rail projects are expected to support the creation of 84 new jobs, leverage nearly $25 million in new capital investment and provide $1 million to reconstruct a rail bridge in Waterloo destroyed by floodwaters in 2008.

The RRLGP received $1.5 million in funding through I-JOBS---an $830 million, three-year initiative of the Culver/Judge Administration intended to create jobs, strengthen the state’s economy and invest in Iowa’s infrastructure.  Many modes of transportation in Iowa will benefit from I-JOBS, including a total of $115 million in investments in our state’s roads and bridges, freight and passenger rail systems, recreational trails, general aviation airports, and public transit systems.

Following is a list of RRLGP projects approved by the Iowa Transportation Commission.

 

Railroad Revolving Loan and Grant Program

 

 

Applicant, Project and Location

Loan

Grant

1.     

Burlington Junction Railway for  industrial park line rehabilitation in Mount Pleasant

$30,400

$25,000

2.     

Schau Recycling for industrial spur construction in Denison (Schau Recycling is a metals recycling plant in Denison)

$195,000    

$30,000

3.     

Shine Bros. Corp. for industrial track rehabilitation in Spencer (Shine Bros. Corp is a large scrap recycling yard in Spencer)

$206,071

$105,000

4.     

City of Waterloo (on behalf of Secor Specialty Co., a manufacturing and distribution firm in Waterloo) for industrial spur construction in Waterloo

$0

$126,000

5.     

Webster County Board of Supervisors for an industrial park in Fort Dodge

$600,000

$300,000

6.     

CRANDIC Railway for bridge replacement in Walford

$700,000

   $    0

7.     

Union Pacific/Iowa Northern Railway Co. for bridge reconstruction in Waterloo

$0

$1,000,000

 

 Total

$1,731,471

$1,586,000

The RRLGP provides assistance to rail facilities that create jobs and spur economic development, and railroads for the preservation and improvement of the rail transportation system. Applications may be submitted at any time and are reviewed as funding is available.

For more information about the overall I-JOBS initiative, visit ijobsiowa.gov; or learn more about transportation-specific investments by visiting the Iowa Department of Transportation’s I-JOBS Web site.

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Contact: Roselyn Wazny at 515-239-1066 or roselyn.wazny@dot.iowa.gov


Iowa highway in the evening