More than $4 million made available through Iowa’s Railroad Revolving Loan and Grant Program
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 |
|
|
$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 [email protected]