USDA Grant/Loan Announced for Fairfield Shell Building
Fairfield, Iowa, September 12th, 2018 – The USDA Rural Development has announced an economic development grant to be awarded to Access Energy Cooperative for a shell building in the Fairfield Business & Industrial Park. Once the grant is received, Access Energy Cooperative will loan the grant money of $300,000, plus $60,000 in matching funds, to the Fairfield Economic Development Association for construction of the shell building. Once the building is sold and the loan has been paid back, the money will become part of the Access Energy Cooperative Revolving Loan Fund to loan out to other local economic development projects.
Fairfield Economic Development Executive Director, Josh Laraby noted, “Access Energy Cooperative has been a vital partner in the new business park and shell building’s development, with their assistance on the sewer expansion, construction of the 3-phase electrical service to the park, and now financial assistance with the shell building project.”
This is an artist rendering of the new Fairfield Business & Industrial Park on the south side of Fairfield. The proposed site plan is subject to change. The rendering is provided by Fairfield Economic Development Association.
The City of Fairfield, Jefferson County, Fairfield Economic Development Association, Access Energy Cooperative, and Northeast Missouri Electric Power Cooperative are all members of a 28E Agreement that is moving forward with plans to construct a 30,000 sq. ft. shell building designed to attract new businesses or assist an existing business with expansion. The committee is in the process of finalizing project details and more information will be forthcoming.
For more information, contact:
Fairfield Economic Development Association (FEDA)
101 North Court Street
Fairfield IA 52556
Access Energy Cooperative
1800 West Washington Street
Mt. Pleasant IA 52641