Rural Economic Development

Hawkeye REC supports the economic development efforts of area communities by awarding loans through its economic development revolving loan fund. This promotes electric energy sales, helps stabilize rates and improves the quality of life for its members and the communities it serves.

The loans made available through this fund come in part from grants awarded to Hawkeye by several different sources including the USDA Rural Economic Development Loan and Grant (REDLG) Program. For every dollar Hawkeye invests in a project, six dollars are received through these programs.

Over the past two years Hawkeye has funded over $1 million in local projects through this revolving fund. This includes funding for Decorah Jobs, Inc., the Industrial Park in Lime Springs, Dairy Education and Applied Research Laboratory at Northeast Iowa Community College in Calmar and the Evans Assisted Living facility in Cresco.

Dairy Education and Applied Research Laboratory
This state-of-the-art facility allows students to conduct research and gain hands-on experience in the field of dairy education.

"We felt this project was important to everyone we serve," said General Manager Tom Miller. "By making the Iowa dairy industry more competitive, it will improve the quality of life for all Iowans. Hawkeye is proud to be a part of such a worthwhile venture."

Decorah Jobs, Inc. & City of Lime Springs
Hawkeye provided funding to build and develop new business parks in Decorah & Lime Springs, Iowa. "These industrial parks will help recruit new business and industry to our local communities," said General Manager Tom Miller. "This will create new jobs and be good for the local economy."

Evans Assisted Living
A newly designed assisted living unit that will be located in Cresco. Completion date is expected for April 2005. Evans Home for the Aged, Inc is a community owned non-profit organization that started in 1960 with the mission of providing suitable facilities for the elderly residents of Howard County and the surrounding communities to age in place, thus giving them choice, dignity and idependence.

Learn more about Hawkeye's Revolving Loan Fund (RLF) Guidelines (PDF file)

Laura Ingalls Wilder Museum, Burr Oak
LeRoy Iron & Metal
Chickasaw Wellness Center, New Hampton

Learn more about Hawkeye's Policy 80 Loan Program (PDF file)

Policy 80 Loan Program
Farmer's Cooperative, New Hampton
Featherlite Trailers, Cresco
New Hampton Transfer & Storage
Master Plastics, Cresco
Masonry Technologies (MTI), Cresco
Bear Creek Archeology, Cresco
Farmer's Mill, Protivin
Omega Machine Tool, Inc., New Hampton

For more information regarding Hawkeye's policies on Economic Development, REDLG, RLF & Policy 80 Loan program, please contact:

Pat Boyle
Business Development
563-547-3801 or 800-658-2243
Email: pboyle@hawkeyerec.com