Iowa approves funding loans and grants for five rail projects
Written by Kyra Senese, Managing Editor
The Iowa Transportation Commission last week approved more than $3.1 million in funding for five rail infrastructure and related rail development projects under Iowa’s Railroad Revolving Loan and Grant Program (RRLG).
The Iowa Department of Transportation (Iowa DOT) said the projects are intended to support the creation of 136 jobs within three years of project completion. The proposed developments are expected to leverage millions in new capital investments throughout the state.
RRLG rail network improvement projects approved by the commission include the following:
- Farmers Feed and Grain Rail Improvement with a loan of $660,750
- KJRY Yard Enhancements with a loan of $151,925
Additional targeted job creation projects were awarded grant and loan funding as part of the announcement, Iowa DOT said.
The projects include:
- Heartland Goodwill Enterprises with a loan of $462,456 and a grant award of $48,000
- UP Rail Improvements at Quaker Oats with a grant award of $1.03 million
- Pattison Sand Company with a loan of $271,732 and a grant award of $564,000
The recommended funding awarded included a total of $1.5 million in loans and $1.6 million in awarded grants, according to Iowa DOT.
