WASHINGTON (AP) - (AP) -- U.S. Sen. Chuck Grassley says the U.S.Department of Agriculture, Office of Rural Development has awarded eight grants totaling more than $3 million to Iowa through the Rural Economic Development Loan and Grant Program.
The grants go to rural utility and telephone cooperatives who, in turn, relend the funds to local businesses to create or retain jobs.
A loan for $740,000 goes to the Grundy County Rural Electric Cooperative in Grundy Center to help construct a 15,000 square-foot facility to be used as a data center. The loan will be for 10 years at zero percent interest.
The Northwest Telephone Cooperative Association in Havelock will receive a $500,000 loan to help expand Country Maid, Inc. in West Bend.
Grants of $300,000 apiece go to cooperatives in Bloomfield, Estherville, Humboldt, Independence and Marshalltown.
(Copyright ©2010 by The Associated Press. All Rights Reserved.)
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