The Iowa Transportation Commission approved more than $10 million in funding for rail infrastructure improvement projects in seven Iowa locations. Commission members provided $7.5 million to four rail infrastructure improvement projects that are expected to support the creation and retention of more than 750 jobs, and leverage millions in new capital investment (including nearly $10 million in rail construction alone). The funds for these projects, which appear below, were appropriated by the Iowa Legislature during the 2010 session, and are to be used for grants for rail projects, including wind energy rail port projects.
Wind Energy Supply Chain Industrial Park, Iowa City $1,056,200
Southbridge Rail Yard, Sioux City 3,000,000
Manly Terminal Wind Rail Port, Worth County 3,000,000
Lincoln Way Rail Port, Clinton 443,800
In addition, the commission approved more than $3.1 million in funding for four additional projects under the Railroad Revolving Loan and Grant Program. These projects are expected to support the creation of more than 300 jobs within the next two years, and spur the development of an industrial park in eastern Iowa.
Project Loan Grant
Eastern Iowa Industrial Center, Davenport* 0 $2,000,000
Adams County Rail, Corning 0 879,461
Nypro Kanaak, Mount Pleasant 122,839 51,183
Lomont Molding Inc., Mount Pleasant 110,848 0
TOTAL $233,687 $2,930,644
*=Direct legislative appropriation
The Railroad Revolving Loan and Grant Program provides assistance to rail facilities that create jobs and spur economic development, and provides assistance to railroads for the preservation and improvement of the rail transportation system. Applications are accepted on an ongoing basis, but are only reviewed as funding becomes available.
Iowa Department of Transportation www.iowadot.gov
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