Press Release

U.S. Department of Commerce Invests $400,000 in the Southwest Iowa Planning Council of Atlantic, Iowa

January 27, 2009
Contact: John Atwood, (202) 482-4085

U.S. Depa r tment of Commerce Invests $400,000 in the Southwest Iowa Planning Council of Atlantic, Iowa

The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $400,000 grant to the Southwest Iowa Planning Council of Atlantic, Iowa to recapitalize a revolving loan fund that will provide financing assistance to businesses in flood-impacted Cass, Fremont, Harrison, Montgomery, and Page counties.

"The Economic Development Administration is pleased to partner with the Southwest Iowa Planning Council to boost business development and job growth," said Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer. "This EDA grant is expected to attract $3.6 million in private investment and create more than 260 jobs for local citizens."

EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA's mission is to lead the federal economic development agenda by promoting innovation and competitiveness, 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.