Funds Will Be Used by the Henry County Health Center for purchase of equipment for the surgical and outpatient departments; and the Wayland Economic Development Corporation for an Industrial Park in Wayland.
Mt. Pleasant, Iowa – September 26, 2013 – The Henry County Health Center and the Wayland Economic Development Corporation each received financial assistance today through Access Energy Cooperative, as loan closing took place at the Access Energy Cooperative facilities.
Access Energy Cooperative loaned $855,000 to the Henry Country Health Center through a USDA $300,000 Rural Economic Development grant and $495,000 Rural Economic Development pass-thru loan. Funds from the $300,000 grant were added to Access Energy Cooperative’s existing Revolving Loan Fund and used to provide $360,000 in financing for the Henry County Health Center to purchase equipment for the surgical and outpatient departments, in addition to the $495,000 pass-thru loan Access Energy secured for the hospital. The project will create three jobs and help retain 300 existing jobs.
Access Energy Cooperative received a second $300,000 Rural Economic Development grant and added to their existing Revolving Loan fund, from which $360,000 was loaned to assist the Wayland Economic Development Corporation with land purchase for a new industrial park in Wayland, Iowa.
The funds are being provided through USDA Rural Development’s Rural Economic Development
Loan and Grant program. Under the program, Rural Development provides loans and grants to rural utilities, usually rural telephone or electrical cooperatives, which in turn provide loans to rural businesses and communities in their service areas.
These funds to Access Energy Cooperative were part of the Rural Economic Development Loan and Grant funds that USDA Rural Development recently awarded to several organizations in Kansas, Illinois, Iowa and Texas. These funds were awarded and announced as part of Agriculture Secretary Tom Vilsack’s kick off of National Health IT week when they highlighted the U.S. Department of Agriculture’s (USDA) partnership with the Department of Health and Human Services (HHS) Office of the National Coordinator for Health IT (ONC) to expand funding for advanced health care technology in rural America.
“Digital technology holds tremendous promise for the future of health care, and we must ensure that rural Americans have access to the latest in health technology,” Vilsack said. “USDA has worked hard to expand digital tools and infrastructure for rural health providers, and as a result more communities are well-positioned to provide cutting edge health care.”
USDA Rural Development’s funding continues to have a dramatic impact on rural communities across Iowa.
Since 2009, USDA Rural Development has invested more than $2.5 billion on essential public facilities, small and emerging businesses, water and sewer systems, and housing opportunities for Iowa families.
This past year USDA Rural Development’s investment in Iowa helped create or retain more than 1,600 jobs, aided 2,400 families in buying their own homes and assisted more than 60 communities as they made improvements to their facilities, services and infrastructure.