WASHINGTON, DC – Congresswoman Abby Finkenauer (IA-01) on Tuesday announced a $192,500 federal grant from the Economic Development Administration for the Cedar Rapids-based East Central Iowa Council of Governments.
The grant will support the development and implementation of a comprehensive economic development strategy for the East Iowa Council of Governments, which serves the counties of Benton, Iowa, Johnson, Jones, Linn, and Washington.
The strategy development process will convene public- and private-sector leaders to craft a plan for bringing new jobs and private capital investment to the region. The goal of the strategy is to create an economic development roadmap that will diversify and strengthen the regional economy. The total project cost, including local investments, is $385,000.
“An economic development strategy is a forward-looking investment in Eastern Iowa,” Congresswoman Finkenauer, chairwoman of the House Small Business Rural Development, Agriculture, Trade, and Entrepreneurship (RATE) Subcommittee, said. “This grant allows local leaders to come together and determine the best strategy to energize our regional economy. I’m eager to hear the results of this plan and work together to welcome new industries and small businesses to our state.”