DES MOINES, Iowa — The U.S. Department of Agriculture is putting $11.5 million into 13 Iowa projects aimed at boosting economic development, supporting value-added agricultural businesses, helping manufacturers and expanding renewable fuel sales.
Mike Sexton, USDA Rural Development Iowa state director, said the agency is working to support business access to capital and industrial services across the state. He said President Donald Trump believes in rural America, and by expanding financing options through local co-ops and delivering entrepreneurial opportunities, USDA is helping Iowans prosper.
“Iowa is a manufacturing powerhouse, and USDA is an integral partner in supporting business access to capital and industrial services,” Sexton said.
$2 million is going toward A to Z Drying Inc. in Osage to help buy a 234,200 square foot production and warehouse facility so the company can expand its customized spray drying business. This project is expected to create 19 new jobs. The money will come from $1 million pass-through loans Heartland Power Cooperative and Osage Municipal Utilities.
USDA Rural Development’s Business Programs provide financial backing and technical assistance to stimulate business creation and growth. The programs work through partnerships with public and private community-based organizations and financial institutions to provide financial assistance, business development and technical assistance to rural businesses.
Money is also going to Iowa State University’s AgMRC center, Corn Belt Power Cooperative, Central Iowa Power Cooperative, Southern Iowa Electric Cooperative Inc., North West Rural Electric Cooperative, Rainbo Oil Company, Multi-County Oil Co., C&D Car Wash LLC, Butler Truck Oasis LLC, Prime Stop Inc., and Molo Petroleum LLC.