More than $4.6 million made available through Iowa’s Railroad Revolving Loan and Grant Program
SIOUX CENTER, Iowa – Oct. 14, 2014 – The Iowa Transportation Commission (Commission) approved more than $4.6 million in funding for six rail infrastructure and related rail development projects under the Railroad Revolving Loan and Grant (RRLG) Program. The projects are expected to support the creation and retention of 73 jobs within the next three years; increase rail shipping capacity at an agricultural co-op; spur development at two industrial areas; upgrade infrastructure at an existing rail yard; and support planning of an industrial area served by rail. The proposed developments will leverage millions in new capital investments across the state.
Following is the list of RRLG projects approved by the Commission.
|
Targeted job creation projects |
Loan |
Grant |
|
West Charles Street Viaduct |
$196,294.50 |
|
|
Rail network improvement projects |
|
|
|
Five Star Coop Rail Improvements |
$500,000 |
0 |
|
Iowa Crossroads of Global Innovation |
$1,600,000 |
0 |
|
Des Moines Rail Port |
$1,700,000 |
0 |
|
KJRY Track Enhancements |
$228,800 |
0 |
|
Planning study grants |
|
|
|
Sioux Center Rail Port Study |
0 |
$100,000 |
|
Total recommended funding |
$4,225,094.50 |
$427,157.50 |
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For more information, contact: Tammy Nicholson at 515-239-1052 or
[email protected]