For Immediate Release: Revitalize Iowa's Sound Economy (RISE) grant applications approved

The RISE program was established to promote economic development in Iowa through construction or improvement of roads and streets. Iowa cities and counties are eligible for funding in the form of a grant, loan, or combination thereof. Projects must involve construction or improvement of a public roadway. There are two RISE project types: 1) Immediate Opportunity, and 2) Local Development. More information is available at: www.iowadot.gov/systems_planning/rise.htm.

Projects in Dyersville, Marshalltown, and Grimes were approved along with Grinnell. Here are the details of the Grinnell award:

Grinnell: Up to $301,950 from the city share of the RISE Fund and $247,050 of the county share of the RISE Fund was approved for an Immediate Opportunity grant to assist in construction of turn lanes on Iowa 146 totaling approximately 2,300 feet located on the south side of town. This project is necessary to provide improved access to Grinnell Mutual Reinsurance Co., a property and casualty insurance and reinsurance provider, to support the creation of 61 new full-time jobs and $12,765,599 in associated capital investment. This project is anticipated to be completed by October 2016.