$1.29 million-plus made available through Iowa’s Railroad Revolving Loan and Grant Program
Written by Jenifer Nunez, assistant editorThe Iowa Transportation Commission approved more than $1.29 million in funding for five 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 78 jobs within the next three years, increase rail shipping capacity, support spur and transload development at two industrial sites and upgrade infrastructure at an existing rail yard. The proposed developments will leverage millions in new capital investments across the state.
RRLG projects approved by the commission include Phase I of the Boone Scenic Valley Industrial Park Line ($316,050 loan, $240,000 grant); the Iowa Traction Transload project ($35,792 loan, $59,653 grant); A to Z Rail Enhancement ($200,000 loan); the ADM “S” Curve project ($165,600 loan) and the KJRY Yard Enhancements II project ($280,285 loan).