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More than $5.5 million made available through Iowa’s Railroad Revolving Loan and Grant Program

November 08, 2011

AMES, Iowa – Nov. 8, 2011 – The Iowa Transportation Commission (Commission) today approved more than $5.5 million in funding for nine rail infrastructure improvement projects under the Railroad Revolving Loan and Grant (RRLG) Program. The rail projects are expected to support the creation of 140 jobs within three years of completion, and spur development of a number of industrial areas across the state. The proposed developments will leverage millions in new capital investments across the state.

 Following is the list of RRLG Program projects approved by the Commission.

 

Project

Loan

Grant

1.  Butler [Logistics Park] cross dock (north of Shell Rock in Butler County)


$423,621


$282,000

2.  Global Foods [Processing Inc.] rail spur (Sioux City)


0


$72,000

3.  Waverly GMT [Corporation] rail spur (Waverly)


$185,676


$204,000

4.  Burlington Junction Railway spur rehabilitation (Burlington)

 

$157,948

 

             0

5.  Cherokee Industrial Corporation rail spur

(Cherokee)

 

$617,454

 

0

6.  CRANDIC Iowa River crossing improvement Project (Iowa County)

 

$2,000,000

 

0

7.  Iowa River Railroad Inc. (Marshalltown to Ackley)

 

$1,000,000

 

0

8.  North Central Iowa Rail Corridor, LLC (Forest City to Belmond)

 

$400,000

 

0

9.  Valley Distribution Corporation rail spur (West Burlington)

 

$218,652

 

0

 Total

$5,003,351

$558,000

 

The RRLG Program provides assistance to rail facilities that create jobs and spur economic development, and provides assistance to 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. 

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Contact: Diane McCauley at 515-239-1670 or Diane.McCauley@dot.iowa.gov

 


Iowa highway in the evening