Two NW Iowa Counties Awarded USDA Economic Development Grants
(Primghar)-- Economic development organizations in two northwest Iowa counties are five recipients in Iowa awarded grant funds through the U.S. Department of Agriculture.
The O'Brien County Economic Development Corporation was awarded $196,910 to start a new Revolving Loan Fund.
The OCEDC already administers two separate revolving loan funds: a county fund and a USDA Intermediary Relending Program fund.
Kiana Johnson of the OCEDC says they'll use the new fund in a similar way as the others: to attract, retain or expand business and industry in O'Brien county. She says the funds may be used for land purchases, building purchases, building construction, machinery and equipment purchases and any other uses deemed appropriate by a committee that will award the funds.
Johnson says two businesses have already submitted applications that have been approved for funding.
Emmet county was also awarded funding through the USDA program. It will receive $25,000 which will also be used to start up a revolving loan fund program in that county.