The Iowa Rural Development Council has selected five projects for small business development grants, ranging from an Eastern Iowa community of 1,100 to a Northwest Iowa three-county region. In its second cohort, the Rural Business Initiative will provide grants of at least $30,000 to the recipients, who can use the funds for technical assistance, network-building, training, strategic planning or funds for capital needs such as storefronts repairs or equipment purchases. The grants, funded by a Wells Fargo Foundation grant, aim to assist
small businesses, startups and entrepreneurs. A selection committee considered 26 different proposals.
- Clarence: Transform a derelict building into four small commercial spaces.
- Coon Rapids: Proactively prepare businesses for a downtown streetscape reconstruction.
- Corning: Develop rentable retail spaces designed to be a “safe place to pilot” a business.
- Greenfield: Assist small businesses still recovering from the 2024 tornado.
- Iowa’s West Coast Initiative: Expand Sioux City entrepreneurship effort to rural counties.
The council will collaborate with the Iowa Small Business Development Centers, the Iowa Center for Economic Success, state regent institutions and the state of Iowa to maximize resources to the successful applicants. In addition, representatives of the four communities selected for the grants in 2024 – Minden, Ottumwa, Perry and West Branch – will act as mentors.