The Iowa Transportation Commission approved state funding of nearly $.4.8 million dollars for Sioux City Tuesday to make roadway improvements to help lure in new businesses. Craig Markley with the Department of Transportation says it’s a RISE or “Revitalize Iowa’s Sound Economy” grant.
Markley says Sioux City submitted a request for an “immediate opportunity” grant to support large-scale industrial manufacturing focusing on wind energy, but based on the capital investment, job creation and area to be opened up, the state reclassified it to a local development grant which reduces the local match to 50%.
So the total project is for over $9-million. Markley says the street improvements would help provide access to more than 400 acres for industrial development in the city’s Southbridge Business Park.
Markley says one business, T-P-I composites, has expressed interest and Sioux City is one of two finalists. T-P-I makes blades for wind turbines.
The transportation commission also approved a grant of $369,000 Tuesday to make road improvements for the new casino under construction in northwest Iowa.
Markley says the project will construct turning lanes on Iowa Highway 9 in Lyon County. Investors are spending $118-million to build the casino.
