The state of Iowa will receive just over $28,500 as part of a 41-state settlement reached with TJX Cos. Inc. over a massive data breach that compromised millions of credit and debit card accounts between 2005 and 2007. TJX, the parent company of T.J. Maxx and Marshall’s, agreed to pay $9.75 million to the 41 states, and will implement a comprehensive information security program to safeguard consumers’ data. The company admitted no wrongdoing under the settlement. Earlier class-action cases involved payments of millions of dollars to card issuers and consumers.

The Review Committee of the I-JOBS board of directors yesterday approved the first seven applications for funds from the Local Infrastructure Program. The applications, totaling $45 million, will be considered for approval by the I-JOBS board when it meets on Monday in Cedar Rapids. All of the applications were for flood-related reconstruction to public facilities in Cedar Rapids; if approved, the funds would come from $46.5 million reserved for projects related to storm and flood damage. Applications for the remaining $118.5 million in the local infrastructure program will be available beginning July 1.

Newton-based Iowa Telecommunications Services Inc. has reached an agreement to acquire substantially all the assets of WH Comm for $1.1 million. WH Comm is a division of Wright-Hennepin Cooperative Electric Association based in Rockford, Minn. WH Comm provides telephone and high-speed DSL Internet services in several communities near the western suburbs of Minneapolis. It’s the third acquisition Iowa Telecom has announced adjacent to the Minneapolis/St. Paul metropolitan area in the past 18 months, following Bishop Communications and Sherburne Tele Systems. The sale is expected to close this fall.

Steve Parrish, national advanced solutions consultant for Principal Financial Group Inc., has been elected 2009-2010 president of the Society of Financial Service Professionals, Central Iowa chapter. Parrish is an expert on business owner financial planning and a recognized industry authority, spokesperson and author.

Ruan Transport Corp. will dazzle Central Iowans in July by lighting the Ruan Center downtown with red bulbs in honor of founder John Ruan, 95. A lighting ceremony on July 1 at 9 p.m. will kick off a monthlong Founder’s Days celebration by the company. To honor Ruan’s philanthropic example, the company is partnering with United Way of Central Iowa to encourage its employees to volunteer three to four hours each Friday in July.