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More than $3 million made available through Iowa’s Railroad Revolving Loan and Grant Program

October 08, 2013

MASON CITY, Iowa – Oct. 8,  2013 – The Iowa Transportation Commission (Commission) approved more than $3 million in funding for six 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 149 jobs within the next three years, spur development at two industrial areas, and increase rail shipping capacity at two agricultural co-ops. The replacement of a bridge will mitigate flooding to keep rail connections to customers intact during high water events. The proposed developments will leverage millions in new capital investments across the state. 

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

 

 

Applicant
project location

Loan

Grant

Targeted job creation projects 

HFCA Railroad Project

HF Clor-Alkali LLC,
Eddyville

$    174,000

$      150,000

Iowa Corn Processors Rail Expansion

Iowa Corn Processors, Glidden

             245,000

            174,000

Carter Lake Metals Processing Building

Owen Industries, Inc., Carter Lake

                          0

            108,000

Rail network improvement projects

Heartland Co-op Greenfield Rail Loading Elevator

Heartland Co-op,
Fairfield

          1,450,000

                         0

Amana Millrace and Price Creek Bridge Replacement (CRANDIC)

Cedar Rapids & Iowa City Railway, Amana

              725,000

                         0

Planning study grants 

Red Rock Industrial Park

City of Knoxville, Knoxville

                           0

              94,000


Total recommended funding

$ 2,594,000

$      526,400

 

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For more information, contact: Tammy Nicholson at 515-239-1052 or 
tamara.nicholson@dot.iowa.gov

 


Iowa highway in the evening