DES MOINES, Iowa, Nov. 22, 2023 – U.S. Department of Agriculture (USDA) Rural Development State Director in Iowa Theresa Greenfield, today (Wednesday) announced that the Agency is investing more than $12.15-million in loans and $508,000 in grant to nine rural Iowa projects, to spur economic development and catalyze rural prosperity through rural cooperatives. USDA is making the investments through the Rural Economic Development Loan and Grant program.

The announcement is part of a larger national announcement detailing $1.2 billion in support for projects in rural America. A full list of projects from that announcement is available online.

Among the USDA Funded Cooperative projects in Iowa (locally), are those for the:

–Raccoon Valley Electric Cooperative, which received a $1.52-million loan to help fund a pass-through loan to Wernimont Welding, LLC for expansion in Carroll. The project will construct a new welding shop and purchase additional equipment. This project will create three new jobs and promote economic development in rural Carroll County.

-The Raccoon Valley Electric Cooperative also received a $ 830,700 loan, to help fund a pass-through loan to Matt Meister Trucking Inc., an interstate freight hauling carrier. The project will construct a facility for the business in Breda. The project will create six new jobs and promote economic development in this rural Carroll County community.

USDA Rural Development has 11 offices across the state to serve the 1.3 million Iowans living in rural communities and areas. Office locations include a state office in Des Moines, along with an area office (locally), in Atlantic.