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Blog Category: Iowa

Largest-ever EDA Grant Helps To Revitalize Downtown Cedar Rapids & Create Jobs Following Iowa Floods

Submitted on August 30, 2011 - 6:30pm
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Acting Secretary Rebecca Blank and Other Officials Break Ground on the Cedar Rapids Convention Center

Acting U.S. Commerce Secretary Rebecca Blank joined U.S. Rep. Dave Loebsack, Mayor Ron Corbett and U.S. Assistant Secretary of Commerce for Economic Development John Fernandez in Cedar Rapids, Iowa, this week to see how federal funds are making a difference following historic floods that ravaged the city and its economy in 2008.

With the help of a $35 million grant–the largest Commerce’s Economic Development Administration (EDA) has ever awarded –the city is building a new $75.6 million Convention Complex that will serve as a major catalyst for further economic development and investment in the city–creating hundreds of jobs and leveraging millions in private investment. The 435,000 sq. ft. complex will be the second-largest convention and events center in the state upon its completion in the spring of 2013.

Iowa continues to recover from the economic impact of the floods, which interrupted major manufacturing operations, devastated downtown commercial districts, and damaged or destroyed public infrastructure. The Obama administration continues to invest in rebuilding efforts to strengthen local economies across Iowa. More than $1 billion in federal assistance has been awarded to the state to support flood recovery efforts.

Prior to a groundbreaking ceremony for the complex, Blank and Fernandez visited Ovation Networks, a local wireless technology company that was displaced by the flooding in downtown Cedar Rapids. There they announced a new $2.9 million grant to the East Central Iowa Council of Governments to provide additional business assistance and gap financing to companies still recovering from the floods. Three years ago, the Council received $1.5 million from EDA, which they used to assist local businesses like Ovation Networks to rebuild and return to the downtown area.  |  Release  |  Convention Center remarks  |  Ovation Networks remarks 

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Secretary Locke Announces $10 Million Investment in Louisa County, Iowa

Submitted on August 9, 2010 - 1:45pm
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U.S. Commerce Secretary Gary Locke today announced a $10 million U.S. Economic Development Administration (EDA) grant to Louisa County, Iowa, to help rebuild the Oakville Bridge and assure businesses that vital transportation routes will remain open in the event of future severe weather events.

“The 2008 floods severely impacted infrastructure in Iowa,” Locke said. “This EDA grant will ensure that an important link for regional commerce remains open during future floods, letting businesses continue to operate and workers continue to work.”

“These funds will not only create good paying jobs immediately, but also will spur economic development in the region for years to come,” said U.S. Representative Dave Loebsack. “Oakville has shown a steadfast commitment to flood recovery and response and these funds will help the community recover stronger and better than before.”  Read More

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Secretary Locke Announces Grants in Iowa to Aid Flood Rebuilding Efforts

Submitted on April 9, 2010 - 11:34am
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Secretary Locke at podium

U.S. Secretary of Commerce Gary Locke viewed new flood-resistant construction at the University of Iowa and announced grants totaling $30 million to assist in flood rebuilding efforts in the aftermath of the 2008 Iowa flood—part of a continuing effort by the Obama administration to help those impacted by the flooding. Locke was joined by Governor Chet Culver, Congressman Dave Loebsack and Mayors Matt Hayek and Jim Fausett. Commerce’s Economic Development Administration will administer the grants. (Remarks) (Press release)

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NOAA: Imminent Flood Threat in Midwest, South and East at Risk

Submitted on March 16, 2010 - 11:55am
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Map of U.S. showing areas of flood risk. Click for larger image.

Major flooding has begun and is forecast to continue through spring in parts of the Midwest according to NOAA’s National Weather Service. The South and East are also more susceptible to flooding as an El Niño influenced winter left the area soggier than usual. Overall, more than a third of the contiguous United States has an above average flood risk—with the highest threat in the Dakotas, Minnesota and Iowa, including along the Red River Valley where crests could approach the record levels set just last year. (More)

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