CEDAR RAPIDS, Iowa (KCRG) – A new $1.3 million grant will go towards infrastructure improvements for NewBo City Market in Cedar Rapids, U.S. Secretary of Commerce Gina Raimondo announced Tuesday.

The grant, which comes from the Economic Development Administration (EDA), will support renovation and expansion of the facility.

The EDA said the grant, along with a matching $1.3 million in local funds, is estimated to help create 40 jobs by expanding the market to allow more small businesses to move in.

“This EDA investment will allow for new businesses to start and grow in Cedar Rapids, supporting agricultural entrepreneurs and creating a stronger regional economy,” Secretary of Commerce Gina Raimondo said.

Iowa Senator Chuck Grassley said he’s glad to see the federal funds put to good use in the state.

“Cedar Rapids leaders, along with Iowans who’ve attended my town meetings, have shared with me the challenges small businesses are up against, including aging infrastructure and a dwindling workforce,” Grassley said. “This award will allow local entrepreneurs to continue to pursue their dreams and share their talents with the Cedar Rapids community.”

The project is made possible by regional efforts by the East Central Iowa Council of Governments.

Copyright 2024 KCRG. All rights reserved.