Allamakee-Clayton Electric Coop honored with Economic Development Impact Award
ACEC receives IADG Impact Award ... Iowa Area Development Group (IADG) President Rand Fisher (left) presents an Economic Development Impact Award to Allamakee-Clayton Electric Cooperative Executive Vice President/General Manager Paul Foxwell (right) at the cooperative’s 80th Annual Meeting September 10. The cooperative received the award for its economic development accomplishments and commitment to local communities. Submitted photo.
The commitment of Iowa’s rural electric cooperatives goes far beyond ensuring safe, reliable, affordable and environmentally responsible energy for their member-owners. Cooperatives actively create strategic partnerships and provide technical and financial assistance to support business growth and community vitality.
Annually, Iowa Area Development Group (IADG) presents Impact Awards to utility partners who were involved in significant economic development initiatives the prior year. Allamakee-Clayton Electric Cooperative was recognized for its extraordinary economic development accomplishments and commitment to local communities during the cooperative’s Annual Meeting held in Postville September 10.
Allamakee-Clayton Electric Cooperative was presented with an IADG Impact Award for project development. Allamakee-Clayton Electric Cooperative has supported economic development in its territory for many years. A recent example of project support benefiting the area was an equipment upgrade assisted with at the Trinity Fabricators headquarters near New Albin. Allamakee-Clayton Electric Cooperative provided a $100,000 loan from its Revolving Loan Fund to support the purchase of a new robotic structural fabrication system that will allow for greater efficiencies in Trinity’s throughput capacity.
The cooperative also connected Trinity Fabricators with additional funding through the IADG Energy Bank Revolving Loan Fund. Allamakee-Clayton Electric Cooperative has also successfully secured several pass-through loans and grants from the USDA Rural Economic Development Loan & Grant program to support projects throughout its service territory.
“We commend Allamakee-Clayton Electric Cooperative for their steadfast support of business and community development in the counties and communities they serve,” said IADG President Rand Fisher. “They provide important technical and financial assistance that many times is a key component in successfully securing projects that create jobs and support community vitality.”
