PEOSTA, IA (January 28, 2021) – A local effort to coordinate future planning and create an economic development organization has received $5,000 through a Power of Connection grant administered jointly by ITC Midwest and the Iowa Rural Development Council (IRDC).
With a population of around 2,000 people, Peosta is one of the fastest growing communities in Iowa. A large industrial park and strong regional economy have provided the foundation for rapid development, fueled by incredible participation from the private sector. As Peosta transitions from a bedroom community to a community of choice, it has become evident that there is a coordinating, liaison and information-sharing gap. City leaders have identified the need for a local development body to connect city government, existing businesses and willing developers.
The City of Peosta has embarked on a housing study, comprehensive plan revision, and master parks and trails plan creation. These have been impactful endeavors, but again highlighted the need for a nimble, tactical organization to bridge the gap between city vision and private sector resources.
The grant program, launched late last year by ITC Midwest and IRDC, is intended to help fund feasibility studies, strategic planning and non-construction/equipment elements of a rural project. The Power of Connection grant will allow the city to engage a consultant to facilitate the creation of an economic development organization. Without this funding, this initiative likely would have been tabled for now due to post-COVID financial stress.
“The Power of Connection process and award have been nothing short of transformational for Peosta,” said Whitney Baethke, Peosta City Administrator. “The conversations and relationships birthed by IRDC and ITC Midwest’s support of our project are already accelerating momentum and energy in our community. We are extremely grateful for their investment and commitment to cultivating strategic leadership in Iowa.”
“Peosta has experienced tremendous growth in the past decade, with even more opportunities ahead through the coordination of economic development efforts,” noted ITC Midwest President Dusky Terry. “Through the Power of Connection program in collaboration with the Iowa Rural Development Council, ITC Midwest is pleased to support the creation of an economic development organization in Peosta to spur growth in the area and improve the overall quality of life.”
Communities eligible for the Power of Connection program must have populations of under 10,000 and be outside of a metropolitan area. Power of Connectiongrant dollars cannot be used for construction, real estate or equipment.
For more information about program details, contact IRDC Executive Director Bill Menner at DIRECTOR@IOWARDC.ORG or call 641-990-4757.
About ITC Midwest
ITC Midwest LLC is a subsidiary of ITC HOLDINGS CORP., the largest independent electricity transmission company in the U.S. ITC Midwest operates nearly 6,700 circuit miles of transmission lines in Iowa, Minnesota, Illinois and Missouri, and holds utility status in Wisconsin. ITC Midwest is headquartered in Cedar Rapids, Iowa, and maintains regional operating facilities in Dubuque, Iowa City and Perry, Iowa; and Albert Lea and Lakefield, Minnesota. For further information visit WWW.ITC-HOLDINGS.COM. ITC is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry. For further information visit WWW.FORTISINC.COM.
About the Iowa Rural Development Council
The IOWA RURAL DEVELOPMENT COUNCIL is a non-profit public-private partnership featuring members ranging from federal agencies to utilities, universities and community colleges and for-profit entities. The Council is a federal Farm Bill-authorized organization that seeks to empower rural communities and bring together partners to advance the interests of rural Iowa.
Bill Menner, Executive Director, Iowa Rural Development Council
DIRECTOR@IOWARDC.ORG or 641-990-4757
Rod Pritchard, Manager of Marketing and Communications, ITC Midwest
RPRITCHARD@ITCTRANSCO.COM or 319-350-9255
Whitney Baethke, City Administrator, Peosta
WBAETHKE@CITYOFPEOSTA.ORG or 563-556-8755