For Immediate Release
September 30, 2024
Contact: Bill Menner, director@iowardc.org
Iowa Communities Selected for Small Business Grant Program
Funded projects in Minden, Perry, West Branch and 21 towns in Southeast Iowa
GRINNELL, IOWA - The Iowa Rural Development Council (IRDC) has selected four pilot projects for its Rural Business Initiative (RBI), an effort to support rural small businesses funded through a $200,000 grant from the Wells Fargo Foundation.
The successful applicants represent rural places across Iowa and are located within 30 miles of a Wells Fargo bank branch. Each proposed a plan to support existing small business, enhance entrepreneurship and expand the economic vitality of their rural area.
Selected as pilot RBI recipients:
- City of Minden
Minden was hit by two tornadoes last April that devastated 40% of the Pottawattamie County community of 600. The community is launching a “Forward With Strength’ effort targeting its central business district, known as the Minden Triangle. The Triangle was a vibrant district, but many businesses there have not been able to operate since the disaster. However, together they are working diligently to build back better and reopen not only for their respective bottom lines but also for their employees and the community in general.
- Pathfinders RC&D Region
Pathfinders RC&D (Resource Conservation and Development) serves five core counties in Southeast Iowa, with additional services reaching more than 20 counties in the region. Through the Leveraging Access for Underserved Networks and Capital for Hope (LAUNCH) program, Pathfinders aims to impact small businesses in 21 rural communities across the five core counties. LAUNCH seeks to bridge the gap in economic development resources between smaller towns and larger cities like Ottumwa by promoting regional collaboration and providing customized support to strengthen the small business environment, boost job creation and revenue, and build a more resilient economy.
- Perry Chamber of Commerce
The city of Perry took a hit in July when Tysons closed its local pork packing plant, which employed more than 1,200 workers. But community leaders acknowledge there have been small business challenges leading up to that announcement and they have a plan to move ahead. Perry seeks to revive a pandemic-era business grant program for small businesses in need of capital for products, services, marketing, or improvements, as well as providing invaluable connections to resources for skill building and networking.
- West Branch Main Street
West Branch’s historic downtown is home to 47 small businesses, which face several looming economic challenges. The eastbound exit to I-80 is closed for construction and the westbound exit is set to close next year, affecting access for 25,000 vehicles daily. Also, the Herbert Hoover Presidential Library & Museum will close soon for renovation, creating other short-term challenges. West Branch Main Street has an effort, the Rising Tide Initiative, aimed at helping small businesses by enhancing street appeal, updating signage, renovating facades, increasing accessibility, and optimizing inventory.
The IRDC will work with these communities and partners from local Wells Fargo bank branches, the Iowa Small Business Development Centers and the Iowa Center for Economic Success to assess the situation in each place. Collectively, strategies for training, capacity building and funding will be developed.
“This is an outstanding opportunity, thanks to the Wells Fargo Foundation, for targeted support of small businesses in small towns,” said Mark Reinig, IRDC Board President. “These four pilot places have creative concepts to address existing needs and ultimately impact the viability of local businesses and economies.”
The Iowa Rural Development Council is a statewide public-private non-profit organization focused on rural vitality and local capacity that will sustain and grow Iowa’s small towns. For more information, email director@iowardc.org.
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Perry Chamber of Commerce
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Bill Menner, Iowa Rural Development Council Executive Director
- September 30, 2024
- 641-990-4757
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