Twenty-One Independent Telecommunications Companies Honored with Impact Award
Twenty-one independent telecommunication companies (ITCs) have been awarded the 2018 Ripple Effect IMPACT Award by Aureon and Iowa Area Development Group. All of the companies are honored for operating revolving loan funds (RLFs) that provide critical financing for business and community development in rural Iowa.
The twenty-one ITCs operate 22 funds around the state which in total are capitalized at over $9.6 million. The funds were all established with initial capitalization from either the United States Department of Agriculture (USDA) and/or Aureon. The RLFs were created from 1990 through 2017 and have provided loan assistance for nearly 250 development projects. Take a closer look at the map.
“The strategic pursuit of economic development by all of these companies through their RLFs has served communities and businesses across Iowa very well and resulted in critical growth in their service territories in rural Iowa,” states Sue Cosner, Vice President of Community Initiatives at the Iowa Area Development Group.
The Ripple Effect IMPACT award is awarded annually and recognizes economic development leadership, investment in and contribution to communities. The award is sponsored by Aureon and Iowa Area Development Group (IADG) who respectively fund and manage the Ripple Effect program which assists ITCs in attracting businesses to their territories, in turn creating jobs, spurring economic growth, and adding vitality to their communities.