Iowa commission OKs $1.29 million in rail project loans, grants

The Iowa Transportation Commission recently approved more than $1.29 million in funding for five rail infrastructure and rail development projects, the Iowa Department of Transportation (DOT) announced last week.

The loans or grants were provided under the state's Railroad Revolving Loan and Grant (RRLG) program. The projects approved last week are expected to support the creation and retention of 78 jobs within the next three years; increase rail shipping capacity; support spur and transload development at two industrial sites; and upgrade infrastructure at an existing rail yard, Iowa DOT officials said in a press release.

Among the targeted job creation projects that received RRLG funding are the Boone Scenic Valley Industrial Park Line Phase I in Boone, Iowa. That project was approved for a $316,050 loan and a $240,000 grant.