Wednesday, September 12, 2012

Iowa grants more than $4 million to state railroad projects

The Iowa Transportation 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.

RRLG projects approved include:

• Iowa Falls UP/CN Connector, $600,000 loan, $300,000 grant

• Rail One, $744,000 loan, $372,000 grant

• CRANDIC Iowa River Crossing North Bridge, $1.5 million loan

• BJRY Rail/Truck/Barge Planning Study, $40,000 grant

• Central Iowa Transloading Facility Feasibility Study, $100,000 grant

• Iowa Falls/Hardin County Rail Port Planning Study, $100,00 grant

• North Central Ag Park Planning Study, $80,000 grant

• Mills County-Pottawattamie County Rail Port Study, $78,400 grant

• Sioux City Rail Study Phase II, $100,000 grant.

Total recommended grants equal $1,170,400 and loans equal $2,844,000.

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