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Osceola Electric grant will enable telemedicine upgrades to hospital expansion project | | | | |
Senator Chuck Grassley, Congressman Steve King and Mark Reisinger, USDA Rural Development state director in Iowa, were in Merill Monday afternoon to present $7.5 million in funds to assist with the construction of Plymouth Oil.
Grassley, King and Reisinger then traveled to Sibley to present a $300,000 Rural Economic Development Grant to Osceola Electric Cooperative. The grant will be used by the Osceola Community Hospital to assist with tele-medicine upgrades needed for the expansion project at the hospital in Sibley.
This expansion project will include such things as a 10,000 square-foot addition to the hospital and add new surgical suites, a wellness center, an expanded and renovated emergency room and a new tele-radiology department.
"Helping to improve economic opportunities in rural America is a leading emphasis at USDA Rural Development," Reisinger said. "During the past year, our agency has awarded more than $100 million in guaranteed loans, direct loans and grants for a wide range of business and economic development projects throughout the state."
USDA Rural Development provided a $7.5 million loan guarantee for the project to American Bank in Le Mars to assist with the corn extraction process to create food grade oil. Plymouth Oil will purchase raw corn germ, corn bran and other feed-related products from Plymouth Energy, a nearby ethanol plant. The company will then further refine the raw materials into de-oiled germ meal and bran and crude corn oil. Plymouth Oil is expected to create 30 jobs.
The funds are being provided through USDA Rural Development's Rural Economic Development Loan and Grant program. Under the program, Rural Development provides loans and grants to rural utilities, usually rural telephone or electrical cooperative, which in turn provide loans to rural businesses and communities in their service areas.
So far this year, Rural Development has awarded 16 such loans and grants in Iowa totaling $6.9 million.
Rural Development is an equal opportunity leader with a variety of direct and guaranteed rural credit programs involving single and multi-family housing, community facilities water and sewer development and business and industry programs.
During the past year, Rural Development helped a record number of Iowans receive funding for economic development projects and quality of life improvements. The agency's investment in Iowa helped create or retain 2,300 jobs, aided 1,240 families in buying their own homes and assisted more than 100 communities in improving community facilities and upgrading local infrastructure.
"All of our programs are voluntary, so we are always on the lookout for individuals and groups wanting to grow in rural Iowa," Reisinger said. "At Rural Development we are constantly looking to partner with new rural businesses to advance our mission of ensuring the best possible quality of life for all rural Americans. Give us a call today.
Further information on rural programs is available at the local USDA Rural Development office in LeMars, which can be reached at 712/546-5149 or by visiting www.rurdev.usda.gov/ia.
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