DES MOINES, Iowa – U.S. Rep. Zach Nunn, R-Iowa, on Monday introduced bipartisan legislation to spur development and growth opportunities in rural Iowa. The Revitalizing Rural Communities Act, which is co-led by U.S. Rep. Don Davis, D-N.C., would increase the Rural Economic Development Loan and Grant Program (RED L&G) funding from $50 million to $60 million over a five-year period.
“Too often, our small towns are overlooked, and I’ve made it my mission in Congress to put them first,” Nunn said in a released statement. “I first learned about this program and the support it offers to our communities through a stop on my Farm Bill Listening Tour. RED L&G gives rural towns the opportunity to strengthen their communities by generating jobs and creating new opportunities for families at a time when that investment is needed.”
In 2022, the 74 electric co-ops that make up the Iowa Area Development Group’s members secured more than $28 million in RED L&G funding, making Iowa the top recipient of these grants nationwide. Since RED L&G was first established, Iowa Area Development Group’s members have awarded more than $1.18 billion in new investments in our rural communities and created or retained 21,700 jobs statewide.
“Rural communities and businesses form the backbone of America’s economic vitality,” Davis said. “I’m proud to co-lead the Revitalizing Rural Communities Act of 2023 with Rep. Nunn because this legislation represents our commitment to ensuring prosperity in our nation’s rural regions, including those in eastern North Carolina. I will always seek every opportunity to bolster our local economies, empower our small businesses, and promote rural economic development because eastern North Carolina deserves nothing less.”
The RED L&G program provides rural utilities with zero-interest loans and grants for rural development projects that benefit small, rural communities. These loans and grants can be used to give small businesses, local governments, school districts, non-profits, healthcare facilities the tools they need to add and retain jobs, expand their footprint, provide technical assistance, access medical technologies, and more.
Read the bill below:
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