supports regional economic development activities through the Iowa Northland
Regional Economic Development Commission (INREDC). The INREDC was designated
as a Regional Economic Development District by the U.S. Department of
Commerce in 1990. Since that time, the region has been able to secure
annual Economic Development Administration planning assistance funds
to provide technical assistance and assist other agencies in the region
in securing financial assistance in the form of grants and loans from
federal and state agencies for local communities, development groups
and expanding businesses.
and Loan Programs
INRCOG staff participates with communities and economic development
organizations in the recruitment, expansion and retention of industrial
jobs through grant writing and technical assistance. Grant programs
most commonly used to provide financial assistance are Community Economic
Betterment Account (CEBA), Economic Development Set-Aside (EDSA), and
Public Facilities Set-Aside (PFSA), all administered through the Iowa
Economic Development Authority. Others include Revitalize Iowa's
Sound Economy (RISE), Tax Increment Financing (TIF), Economic
Development Administration (EDA) and U.S.
Department of Agriculture - Rural Development.
Revolving Loan Fund (RLF)
The INREDC Revolving Loan Fund was established through grants from
the U.S. Department of Commerce, Economic Development Administration
(EDA), and the Iowa Economic Development Authority (IEDA). Loans are
designed to assist eligible businesses with fixed asset acquisition,
inventory, and working capital needs. Businesses must be located in
Bremer, Buchanan, Butler, Chickasaw, or Grundy counties. RLF loans are
intended to be gap financing for projects that cannot qualify for funding
through regular channels. INREDC staff is available to discuss any project
prior to completion of the loan application and provide additional guidance.
Revolving Loan Fund
Loan Fund Application Form
Loan Fund Administrative and Operational Plan
Economic Development Strategy (CEDS)
Each year a Comprehensive
Economic Development Strategy (CEDS) is prepared or updated for
the region, setting out goals and objectives for the year's activities.
The purpose of the CEDS is to establish a process that will help create
jobs, attract public and private investments, foster a more stable and
diversified economy, and improve living conditions in the region. The
INREDC Board of Directors governs these economic development efforts
and INRCOG staffs and supports them.
INRCOG coordinates its economic development efforts with a variety of
partners. At the local level, each county in the Iowa Northland Region
has a lead agency and committee to respond to economic development inquiries.
These responses often involve the cooperation and assistance of local
banks and community economic development groups.
Hawk Economic Development crosses county lines to administer various
loan programs. Greater
Cedar Valley Alliance focuses its efforts on the Waterloo/Cedar
Falls area. The University of Northern Iowa (UNI) Regional
Business Center provides entrepreneurial training, business planning,
market plan development, and e-commerce technical assistance. Other
valuable assistance can be brought to projects through Iowa
Waste Reduction Center, UNI's Institute
For Decision Making (IDM), and Iowa State's Center
for Industrial Research and Service (CIRAS).
Brian Schoon, Director of Development