News
January 27, 2009
harkin announces $400,000 to establish a loan fund to assist with flood recovery
Washington, DC - U.S. Senator Tom Harkin (D- IA) today announced that the Southwest Iowa Planning Council, located in Atlantic, will receive $400,000 from the U.S. Department of Commerce’s Economic Development Administration (EDA) to establish a Revolving Loan Fund. These loans will provide important capital to businesses and communities severely impacted by floods and tornadoes in Cass, Fremont, Harrison, Mills, Montgomery, Page, Pottawattamie and Shelby Counties.
“Though businesses have started to pick up the pieces after this summer’s flooding, many are still struggling to get everything back to normal,” said Harkin. “These dollars are important to continuing the rebuilding process.”
This funding is expected to create 60 jobs and leverage $3 million in private investment.
Harkin worked to provide $100 million in EDA disaster emergency funds that the Congress passed in June, and an additional $400 million in October.
