The loan will construct almost 6,300 feet of railroad spur tracks at the co-op's Auburndale, Wis., facility. The rail construction project is part of a $24 million expansion project to ProVision Partners' existing grain elevator and fertilizer storage capacity. The project also will add feed mill facilities and a convenience store to this location. This project is expected to result in approximately 30 new jobs.
ProVision Partners Co-op was formed as a combination of Central Wisconsin Cooperative based in Stratford and Harmony Cooperative from the Colby, Unity and Pittsville areas. The new facility will be served by Canadian National.
FRIIP is one of two freight railroad assistance programs designed to increase the use of rail transportation and support economic development and job creation. FRIIP is a revolving loan program used to improve rail infrastructure and construct new rail-served facilities.
In addition, the Wisconsin Department of Transportation (WisDOT) distributes
grants through the Freight Railroad Preservation Program (FRPP). FRPP grants cover up to 80 percent of project costs to help preserve freight rail service or rehabilitate track on publicly-owned rail lines.
Since 1994, WisDOT has provided more than more than $128 million in FRIIP loans and $225 million in FRPP grants to help fund 167 infrastructure acquisition, rehabilitation and improvement projects statewide.