Economic Development Efforts
Pella Cooperative Electric’s Revolving Loan Fund (RLF) is a local funding source with the goal of providing low interest loans to assist with local economic and community development projects.
The United States Department of Agriculture’s Rural Economic Development Agency created the Community/Economic Development RLF to improve quality of life in rural areas by contributing to longer-term improvements in the local economy.
The fund is administered by the Board of Directors of Pella Cooperative Electric in compliance with the USDA program’s terms and conditions.
The RLF priorities include:
- Job creation and retention.
- Diversification of local economy.
- Improving the skill of rural workforce.
- Upgrading the public infrastructure to improve the health, safety, or medical care of rural residents.
Pictured above: The Cooperative’s RLF provided financial support for a Culver’s Restaurant in Pella. Tim and Sherri Te Grooanhuis, owners (wearing blue shirts), are pictured with other community supporters during the ground breaking ceremony on June 28. Culver’s is scheduled to open in fall of 2012.