Iowa commission OKs $6.3 million in rail project grants, loans

The Iowa Transportation Commission has approved $6.3 million in funding for six proposed rail infrastructure and related rail development projects under the state's Railroad Revolving Loan and Grant Program.

The projects are expected to support the creation and retention of 109 jobs within three years of completion, Iowa Department of Transportation officials said yesterday in a news release.

The projects fall under three categories: targeted job creation; rail network improvements; and rail port planning and development.

Under targeted job creation projects, the commission approved:

• a $2 million loan and $612,000 grant to Platinum Crush for a soybean crush plant in Buena Vista County;

• a $664,000 loan and $120,000 grant to Floyd Valley Transload in Woodbury County; and 

• a $503,315 loan and $576,000 grant to IceCap Cold Storage in Pottawattamie County, for new rail track and spurs to provide access to a new facility.

Under the rail network improvement projects, the commission approved a $1.65 million loan for Pattinson Sand Co. to advance phase 5 of a Canadian Pacific unit train expansion project in Clayton County.

Under the rail port planning and development projects, the commission approved a $100,000 grant for a Boonville North transload facility study in Dallas County and a $82,440 grant for the Pacific Junction South Industrial Park transload facility in Mills County.