More than $2.6 million made available through Iowa’s Railroad Revolving Loan and Grant Program
Author
Published
9/19/2017
The Iowa Transportation Commission (Commission) approved more than $2.6 million in funding for three rail infrastructure and related rail development projects under the Railroad Revolving Loan and Grant (RRLG) Program. The projects are expected to support the creation and retention of 105 jobs within the next three to five years. The proposed developments will leverage millions in new capital investments across the state.
Following is the list of RRLG projects approved by the Commission.
Targeted job creation projects | Loan | Grant |
Sterilite Corporation Rail Spur | ---- | $1,008,000 |
Pattison Sand CP Unit Train Expansion - Phase II | $700,482 | $252,000 |
Rail network improvement projects |
|
|
Re-establishment of Freight Service to Clear Lake | $655,000 | ---- |
Total recommended funding | $1,355,482 | $1,260,000 |
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