News
January 28, 2009
harkin announces usda loan of $700,000 for central iowa power cooperative
Washington, D.C. – Senator Tom Harkin (D-IA) today announced a conditional commitment for a guaranteed loan of $700,000 for the Grundy County Rural Electric Cooperative. The funds, part of a loan program so that rural utilities can assist in economic development activities, will assist in the opening of a grocery store in the rural community of Cascade, population 1,945. The community has been without a grocery store for two years. The project will create seven full time jobs and 12 part time jobs. The funding was administered through the Rural Economic Development Loan Program.
“Many Iowans take for granted access to basic necessities like a local grocery store. But in rural communities like Cascade, a grocery store is a much sought after luxury,” said Harkin. “Rural development funds like these are so critical. The addition of this store will not only provide the rural Iowa community with a much needed grocery store but will also create jobs.”
Harkin is the Chairman of the Senate Committee on Agriculture, Nutrition, and Forestry.
