Grant

October 27-November 2

  • $3,223,822 in two Public Works projects as follows:
    • $2,212,859 to the City of Davenport, Iowa, to fund the construction of a new track and rail infrastructure to serve new companies in the Davenport Industrial Park in Scott County. These interchange tracks will allow staging of railcars for transport in and out of the new facilities by way of unit trains. The investment will grow the existing rail switching contractor which will provide economic stability, create jobs, and strengthen the local economy. The grantee estimates that this investment will help create 506 jobs and leverage $78.55 million in private investment.
    • $1,010,963 to the City of Keokuk, Iowa, to fund the repair and improvement of the former Roquette office building in Keokuk, to be operated by businesses seeking to invest in clustering opportunities for start-ups. The improvements will create a rich and collaborative work environment, which will result in businesses improving their product, sourcing products to other startups and attracting new startups to their research and development throughout the region. The grantee estimates that this investment will help create 70 jobs, save 5 jobs, and leverage $3 million in private investment.
  • $130,000 in two Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy (CEDS) process. The CEDS process is designed to bring together the public and private sectors in the creation of an economic development roadmap to diversify and strengthen the regional economy.