USDA Rural Development Invests More Than $12.9 Million in Projects to Promote Economic Growth in Iowa
(Des Moines, Iowa, October 9, 2026) — U.S. Department of Agriculture Rural Development Rural Business Cooperative Service (RBCS) Administrator Gimmie Jo Jansonius today announced that USDA is investing more than $12.9 million in projects to improve healthcare services, support manufacturing, and fuel economic expansion in rural Iowa communities. Joined by USDA Rural Development Iowa State Director Mike Sexton, she made the announcement and highlighted October as National Cooperative Month in Iowa.
“Every October, USDA highlights cooperatives and the role they play in driving economic development across the county,” said Jansonius. “We celebrate our partnerships with cooperatives and continue moving forward with them to build local prosperity, strengthen farmer profitability, and encourage innovation in job creation. Through today’s investment announcements, this Administration is getting the job done for rural America.”
“USDA partners with Iowa co-ops to champion investment in rural hospitals, manufacturing, and ag infrastructure, all to help uplift local economies, as these investments today demonstrate,” said Sexton. “Under the leadership of President Trump and Agriculture Secretary Brooke Rollins, USDA is delivering on our commitment to create and maintain robust rural communities and unleash innovation and entrepreneurship throughout Iowa.”
The Rural Economic Development Loan and Grant program funded these Iowa projects:
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Corn Belt Power Cooperative received a $1 million loan to fund a pass-through loan to Humboldt County Memorial Hospital in Humboldt, Iowa. This project will enable the hospital to expand and modernize its radiology and surgical services. This project will create four new jobs.
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Midland Power Cooperative received a $300,000 grant to expand a revolving loan fund that is administered by Midland Power Cooperative. The initial loan from the grant will partially finance the expansion and modernization of the radiology and surgical services at Humboldt County Memorial Hospital in Humboldt, Iowa.
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Midland Power Cooperative received a $1 million loan to fund a pass-through loan to Hawkeye Molding Company Inc. in Roland, in Story County, Iowa. This project will purchase mold press equipment for business expansion. The project is expected to create 10 jobs.
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Midland Power Cooperative received a $1 million loan to fund a pass-through loan to Humboldt County Memorial Hospital, in Humboldt, Iowa. This project will expand and modernize the hospital’s radiology and surgical services.
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Central Iowa Power Cooperative received a $1 million loan to fund a pass-through loan to Monticello Family Dentistry. This project will enable the business to construct a new dental clinic in Monticello, in Jones County, Iowa. The project is expected to create six new jobs. The purpose of this funding program is to provide rural economic development.
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North West REC received a $300,000 grant to replenish an existing revolving loan fund it administers. The initial loan from the grant will help Family Crisis Centers Inc. finance construction of a new retail facility in Sioux Center, in Sioux County, Iowa. This project will expand current services and is expected to create two new jobs. Repayment of this loan will be used for future business and community development loans.
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Nishnabotna Valley Rural Electric Cooperative received a $1 million loan to fund a pass-through loan to Iowa Pipe Fittings Company LLC. This project will fund business expansion, purchase equipment, modernize network and information technology infrastructure, and establish a dedicated on-site training classroom for the pipe fitting manufacturing company near Oakland, in Pottawattamie County, Iowa. Once completed, the project will increase manufacturing capacity and support growing demand for fire-suppression fittings. The project is expected to create 68 new jobs.
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Farmers Mutual Telephone Company in Stanton received a $1 million loan to fund a pass-through loan to Montgomery County Memorial Hospital. This project will enable the hospital to purchase a dental practice and facility and develop it into an integrated rural health clinic in Red Oak, in Montgomery County, Iowa. The project will create seven new jobs.
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Raccoon Valley Electric Cooperative received a $1 million loan to fund a pass-through loan to Farmers Cooperative Elevator located in Arcadia, in Carroll County, Iowa. This project will purchase a tower grain dryer for business expansion.
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Central Iowa Power Cooperative a $ 961,596 loan to fund a pass-through loan to Industrial Hardfacing Inc. located in Lamoni, in Decatur County, Iowa. This project will expand a building at the facility and purchase equipment. The project is expected to create three jobs.
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Lyon County Rural Electric Cooperative received a $1 million loan to fund a pass-through loan to the city of Larchwood. This project will construct a new community center in Larchwood, in Lyon County, Iowa, to replace an outdated facility. This project will create one new job.
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L&O Power Cooperative received a $1 million loan to fund a pass-through loan to the city of Larchwood. This project will enable the city to construct a new community center in Larchwood, in Lyon County, Iowa, to replace its outdated facility.
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Coon Valley Cooperative Telephone Association in Menlo received a $300,000 grant to establish a revolving loan fund. The initial loan from the grant will assist Exploration Learning Center with constructing a new childcare center in Stuart, Iowa. This project will help retain 20 full-time jobs and promote rural economic development in Adair and Guthrie counties.
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Iowa Lakes Electric Cooperative received a loan for $1 million to fund a pass-through loan to Rosenboom Machine & Tool Inc. This project will purchase equipment to help expand production at the company’s manufacturing facility in Milford, Iowa. The project is expected to create 78 new jobs and spur rural economic development in Dickinson County.
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Prairie Energy Cooperative received a $133,750 loan to replenish an existing revolving loan fund. The initial loan from the grant will purchase equipment for Garner Dental Group, D.D.S., P.C. to upgrade imaging and scanning capabilities at its dental clinic in Garner in Hancock County, Iowa.
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Osceola Electric Cooperative received an $884,800 loan to fund a pass-through loan to Northwest Financial Consulting LLC/MBN Pallets LLC. This project will purchase equipment and help construct the company’s new wood bedding production facility in Sibley, Iowa. The project is expected to create six new jobs in this rural Osceola County community.
For more information on USDA Rural Development investments in rural America, visit the Rural Data Gateway. The Rural Data Gateway is an online tool that strengthens USDA Rural Development partnerships with rural people, entrepreneurs, government officials and Congress by making investment data accessible to the public.
To learn more about these programs, call 515-284-4663 or visit www.rd.usda.gov/ia. If you’d like updates from USDA Rural Development, visit our GovDelivery subscriber page and follow us on X at @RD_Iowa.
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USDA is an equal opportunity provider, employer and lender.
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