Copy
Find Economic Development news and articles from throughout the Dairyland Power Cooperative territory in Iowa, Illinois, Minnesota and Wisconsin.  July 2015.
View this email in your browser

Prison Opening in NW Illinois Presents Opportunities for Housing Developers

clickable image for a land flyerThe federal prison at Thomson, Ill. is expected to have 300 employees on the job by year-end and employment is expected to eventually grow to 1,100 when the facility is fully activated. The boom in employment has local communities striving to provide sufficient single- and multi-family housing. Lisa McCarthy, Executive Director of the Tri-County Economic Development Alliance (TCEDA), says community leaders are welcoming new residential development efforts.

To date, rental properties closest to the prison have been rented. Most of the housing units within a 60-mile radius of the prison are more than 30 years old. 2015 prison salaries range from $15.31 per hour to $72.27 per hour. 
 
Opportunities for single-family and multi-family dwelling construction are available.  The Meadows of Savanna, located just eight miles south of the prison, is a ready-to-build residential subdivision with all utilities and streets completed. Click on the image to view a full flyer on the property.
 
For more information, contact Lisa McCarthy at the Tri-County Economic Development Alliance at (815) 858-4491 or lmccarthy@tceda-nwil.org.
 

A to Z Drying Receives $1 Million 0% Interest Loan for Expansion

A to Z Drying, an Iowa corporation providing custom spray drying, blending, packaging and warehousing services to clients, is being provided a $1 million, 0% rate of interest loan from Heartland Power Cooperative to expand their production in Osage, Iowa.  Brenda Dryer, Mitchell County Economic Development Commission Director, indicates that the expansion includes the construction of a new 16,000-square foot packaging and warehousing facility and the installation of a new high-capacity dryer to meet customer demands.  The total project cost is estimated at $5.7 million and will result in the creation of 20 new jobs in the community.
 
Zero percent interest financing is available through local electric cooperatives for job creation efforts by new and expanding businesses.  For more information and eligibility requirements contact Craig Harmes at (608) 787-1310 or cth@dairynet.com.

New Speculative Commercial / Industrial Building Available in NE Iowa

Construction has been completed on a new 12,000 square foot speculative commercial/industrial building in Stacyville, IA within close proximity to I-35 and I-90 and just 45 minutes from Rochester, MN.  The facility is expandable; zoned industrial; and served with 3-phase power, natural gas and municipal water and sewer. Additional features include a 4.35 acre lot, 20-foot sidewalls, an open floor plan, overhead door and a foundation designed for loading docks.  You finish to meet your specific business requirements.
 
This property offers a great location, low taxes, flexible incentives, a dedicated workforce and supportive local governments.  For further information contact Craig Harmes at Dairyland Power Cooperative at (608) 787-1310 or cth@dairynet.com.
 

Property Highlight: Crossing Meadows Business Park, Ellsworth, WI

The Crossing Meadows Business Park is located in Ellsworth, WI just 20 miles southeast of the Twin Cities metro area.  The community has excellent access to U.S. Highways 10 and 63 and State Highways 65 and 72.  The Park is owned by the Village of Ellsworth, affordably priced and  designed for a mix of commercial, light Industrial and residential uses.  Protective covenants apply.  All sites are shovel-ready with streets and all utilities in place. 
 
For more information, contact Craig Harmes at (608) 787-1310 or cth@dairynet.com.
 
 

0% Interest Economic Development Loan Funds Available

One of the best kept secrets in regional economic development is the USDA Rural Economic Development Loan Program (REDLG) which provides business loans at 0% interest for a ten year term.  The maximum loan amount within this program was recently increased to $2 million and the funds can be used for business financing, infrastructure, health care facilities, business incubators and educational facilities.  Loans are granted for projects taking place within rural service areas of Dairyland Power's member cooperatives.  The favorable terms and large loan amount make the fund a useful incentive to help promote development projects of all kinds.  Eligible loan amounts are determined by overall project size, local cooperative regulations, and other typical loan approval criteria.

Are you wondering if these funds will work for a project you have in mind or what amount of loan you might qualify for?  Contact your local electric cooperative or Craig Harmes at Dairyland Power Cooperative at 608-787-1310 or cth@dairynet.com.  Applications are made through your local energy cooperative and most applications are turned around within two to three months.  Selection factors include the nature of the project, job creation, demographic factors, project plans, financial statements, ownership, supplemental funds, and probability of success of the project as a whole.  Some metro areas may be ineligible.
Dairyland Power is an Equal Opportunity Provider and Employer.
Click here to subscribe to future updates
Facebook
Facebook
Twitter
Twitter
Website
Website
Email
Email
YouTube
YouTube
LinkedIn
LinkedIn
Share
Tweet
Forward to Friend
Share
Copyright © 2015 Dairyland Power Cooperative, All rights reserved.


unsubscribe from this list    update subscription preferences 

Email Marketing Powered by Mailchimp