The Iowa Transportation Commission Tuesday, approved a Revitalize Iowa’s Sound Economy (RISE) Immediate Opportunity grant application submitted by the city of Carter Lake. Up to $815,291 will be made available to assist in the reconstruction of approximately 690 feet of North Fifth Street, approximately 1,286 feet of Avenue J, and approximately 690 feet of North Ninth Street located on the southwest side of town. This project is anticipated to be completed by September 2014.

These improvements are necessary to provide improved access to Paxton & Vierling Steel’s facility, which is a steel processing and fabrication facility and a subsidiary of Owen Industries Inc. The improvements will support the creation of 18 new jobs and the retention of 78 jobs along with $39,658,000 in associated capital investment.

Funding for the grant comes from the city share of the RISE Fund.