New Hampton Municipal Light Plant & New Hampton Economic Development Honored with Economic Development Impact AwardPosted: Thu, March 21, 2019
Iowa's rural electric cooperatives and municipal utilities commitment goes far beyond ensuring safe, reliable, affordable, and environmentally responsible energy. They actively create strategic partnerships and provide technical and financial assistance to support business growth and community vitality. Annually, Iowa Area Development Group (IADG) presents Impact Awards to utility partners who were involved in significant economic development initiatives the prior year. During a meeting of the New Hampton Industrial Development Corporation, the New Hampton Municipal Light Plant & New Hampton Economic Development was recognized for their economic development accomplishments and commitment to the community.
New Hampton Municipal Light Plant & New Hampton Economic Development was presented with an IADG Impact Award for community development. New Hampton Municipal Light Plant & New Hampton Economic Development has supported economic development in the community for many years. A recent example of project participation includes support for the $6 million facility renovation project for the Mercy One - New Hampton Medical Center. This upgrade provides improved health care, better patient privacy, new technology, and a renovated emergency department. All combined, these increased capabilities will provide much needed health care infrastructure for the community, its employers and residents. New Hampton Municipal Light Plant & New Hampton Economic Development secured a $300,000 grant from the USDA Rural Economic Development Loan & Grant program to support this project. New Hampton Municipal Light Plant provided an additional $60,000 in matching funds. Receiving this USDA grant also established a Revolving Loan Fund (RLF) for the New Hampton Municipal Light Plant & Economic Development Office. The loan repayments will go into this newly established RLF and be available to support additional local projects for years to come.
"We commend Brian Quirk and the New Hampton Municipal Light Plant as well as Tammy Robinson and the New Hampton Economic Development Office for their steadfast support of business and community development," said IADG President, Rand Fisher. "They are providing important technical and financial assistance that many times is a key component in successfully securing projects that create jobs and support community vitality.
The Iowa Area Development Group is the marketing and business development office for Iowa's member-owned rural electric cooperatives, select municipal electric utilities, and independent telecommunication companies. IADG has assisted with over 2,100 successful business expansions and start-up projects. This growth represents capital investment of more than $12 billion and 53,000 jobs for Iowa. The Iowa Area Development Group was established in 1985 to promote and strengthen rural Iowa development opportunities. Stay connected with IADG news at www.facebook.com/IADG.IA and www.twitter.com/IADGIOWA.