U.S. Department of Commerce Invests $250,000 to Strengthen Economy in Fort Dodge, Iowa Region
April 15, 2009
Federal Grant Expected to Create 50 Jobs and Generate More Than $1.6 Million in Private Investment
WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $250,000 grant to the Mid-Iowa Development Association Council of Governments of Fort Dodge, Iowa to help recapitalize a revolving loan fund that is providing gap financing to businesses impacted by the 2008 flood disaster.
"The Economic Development Administration is pleased to partner with the Mid-Iowa Development Association Council of Governments to boost business development and job growth," said Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer. "This EDA grant is expected to spur more than $1.6 million in private investment and create 50 jobs for local citizens."
EDA supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.
Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.