(Area) The U.S. Department of Agriculture is investing more than $3.3 million in four southwest Iowa projects aimed at expanding manufacturing, improving healthcare services, supporting agriculture and strengthening childcare.
The investments are part of more than $12.9 million in USDA Rural Development funding announced for projects across Iowa.
In Pottawattamie County, Nishnabotna Valley Rural Electric Cooperative received a $1 million loan to help Iowa Pipe Fittings Company near Oakland expand its operations. The funding will support equipment purchases, upgrades to network and information technology infrastructure, and a dedicated on-site training classroom. The expansion is expected to increase manufacturing capacity to meet growing demand for fire-suppression fittings and create 68 new jobs.
In Montgomery County, Farmers Mutual Telephone Company in Stanton received a $1 million loan to help Montgomery County Memorial Hospital purchase a dental practice and facility in Red Oak. The hospital plans to develop the property into an integrated rural health clinic. The project is expected to create seven new jobs.
In Stuart, Coon Valley Cooperative Telephone Association in Menlo received a $300,000 grant to establish a revolving loan fund. The initial loan will help Exploration Learning Center construct a new childcare center. The project is expected to help retain 20 full-time jobs and support economic development in Adair and Guthrie counties.
The fourth southwest Iowa investment will support agriculture in Carroll County. Raccoon Valley Electric Cooperative received a $1 million loan to provide funding to Farmers Cooperative Elevator in Arcadia for the purchase of a tower grain dryer to support business expansion.
The funding was provided through USDA’s Rural Economic Development Loan and Grant program.
