Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to the county of Monona, Iowa, to make critical roadway improvements and improve access to the Monona County Barge Port. This EDA project, to be matched with $1.6 million in state and local funds, is expected to create 30 jobs and generate $11.5 million in private investment.
“President Biden is committed to helping communities expand and grow their regional economies,” said Secretary of Commerce Gina Raimondo. “This EDA investment in Monona County will provide agricultural businesses with better access to goods, transportation and markets as well as infrastructure for future businesses while supporting job opportunities.”
“The Economic Development Administration is pleased to support Monona County as they seek to diversify the region’s economy,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This project will improve the current roadway system, allowing for greater access and a higher volume of traffic between Interstate 29 and the barge port terminal, connecting farmers and agri-businesses with access to global grain marketing options.”
“I’m glad the Economic Development Administration has continued to help communities across Iowa improve their local infrastructure,” said Senator Chuck Grassley. “Monona County will benefit greatly from these road repairs and increased access to the port. I look forward to seeing how this investment will stimulate and diversify the local economy.”
This project was made possible by the Siouxland Interstate Metropolitan Planning Council’s (SIMPCO) regional planning efforts, which EDA funds to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.