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More than $4 million made available through Iowa’s Railroad Revolving Loan and Grant Program

September 11, 2012

AMES, Iowa – Sept. 11, 2012 – The Iowa Transportation Commission (Commission) approved more than $4 million in funding for nine rail infrastructure and related rail development projects under the Railroad Revolving Loan and Grant (RRLG) program. The rail projects are expected to support the creation and retention of more than 110 jobs within the next three years and spur development of six industrial areas across the state. The proposed developments will leverage millions in new capital investments across the state.

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

 

Loan

Grant

Targeted job creation projects

 

 

Iowa Falls UP/CN Connector

$    600,000

$   300,000

Rail One

744,000

372,000

Rail network improvement

 

 

CRANDIC  Iowa River Crossing North Bridge

1,500,000

   0

Planning study grants

 

 

BJRY Rail/Truck/Barge Planning Study

0

40,000

Central Iowa Transloading Facility Feasibility Study

0

100,000

Iowa Falls/Hardin County Rail Port Planning Study

0

100,000

North Central Ag Park Planning Study

0

80,000

Mills County–Pottawattamie County Rail Port Study

0

78,400

Sioux City Rail Study Phase II

0

100,000


Total recommended funding

$2,844,000

$1,170,400

The RRLG program provides assistance to rail facilities that supports job creation and spurs economic development, preserves and improves the connectivity of the rail transportation system, and plans and develops rail-based industrial development. Applications may be submitted at any time and are reviewed as funding is available.

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Contact: Rose Wazny at 515-239-1066 or roselyn.wazny@dot.iowa.com

 


Iowa highway in the evening