T.I.P. Rural Electric Cooperative realizes that economic development is essential for rural Iowa to thrive. It’s an investment in growing the economy in rural communities and enhancing the prosperity and quality of life for all residents.
Below are some examples of how T.I.P. REC has played an important role in economic development in rural Iowa.
Holder Holdings, LLC
Holder Holdings, LLC was the recipient of a $150,000 Revolving Loan Fund (RLF) loan from T.I.P. Rural Electric Cooperative. The loan helped the Raymond, Mindy, Hobey, Hallie (Ellis), and Hueston Holder family construct a self-storage business located north of Holiday Lake.
This loan helps promote business growth in rural Iowa.
Brooklyn Ruritan Club
The Brooklyn Ruritan Club was the recipient of a $40,000 Revolving Loan Fund (RLF) loan from T.I.P. Rural Electric Cooperative. The loan helped the organization to construct an addition onto their current building which will be utilized for community events, fundraising efforts, and other gatherings approved by the organization.
This loan enables the club to better serve the community.
Mayflower Community Inc.
Mayflower Community Inc. was a recipient of a $360,000 REDL&G loan from T.I.P. Rural Electric Cooperative. This loan will be used for Beebe Assisted Living projects which include renovating the facility to meet enhanced regulatory requirements for assisted living and to improve safety and quality of life amenities. Developing a full service, 340 square-foot kitchen; installing a sprinkler system on the second floor; creating a blown-fiberglass fire barrier between floors; adding a 211 square-foot office; building a new 521 square-foot resident apartment; and developing two outdoor living, dining, and entertainment spaces are how Mayflower plans to use the funding. In addition, plans are also in place to construct these elements of new well-being space: 598 square-foot Salon, 742 square-foot Therapy Clinic (Physical, Occupational, Speech, Cranio-sacral, Acupuncture), 381 square-foot Spa (Massage and Meditation), 1,000 square-foot Fitness Studio, and 1,000 square-foot Strength and Cardiovascular Equipment Room.
The loan for Mayflower Community Inc. was funded through USDA’s Rural Economic Development Loan and Grant program (REDLG). The REDL&G program is one of the economic development programs that TIP offers to promote community development, economic growth, and help create jobs in rural Iowa.
Grinnell Regional Medical Center
Grinnell Regional Medical Center was a recipient of a $360,000 REDL&G loan from T.I.P. Rural Electric Cooperative. This loan along with other generous gifts helped finance their emergency department renovation.
The loan for Grinnell Regional Medical Center was funded through USDA’s Rural Economic Development Loan and Grant program (REDLG). This program provides zero-interest loans for projects that qualify. The REDL&G program is one of the economic development programs that TIP offers to promote community development, economic growth, and help create jobs in rural Iowa. T.I.P. REC continues to do their part in economic development within our communities.
Deep River Fire Department
T.I.P. Rural Electric Cooperative and Central Iowa Power Cooperative partnered to donate $7,500 to the Deep River Fire Department’s remodel and expansion project. Donations such as these support needed revitalization of essential facilities in rural Iowa.
Brooklyn Industrial Park
The Brooklyn Industrial Park is located on the northeast edge of Brooklyn. A cooperative effort by several organizations in Brooklyn: City of Brooklyn, T.I.P. Rural Electric Cooperative, Brooklyn Mutual Telephone Company, Brooklyn Municipal Utilities, Manatt’s Inc., and Poweshiek County Savings Bank enabled the park to become a reality. Each organization contributed in the developmental and financial aspects of the industrial park.
At present located at the industrial park are Thombert Inc, Poweshiek Water Associates, and Natural Soy Products, Ltd.