Gov. Chet Culver announced this morning that the Iowa Transportation Commission has approved more than $2.5 million in grants for road improvement projects. In addition, the commission granted nearly $4.5 million for trail projects across the state through the State Recreational Trails Program. Five road improvement projects have been approved to receive Revitalize Iowa’s Sound Economy (RISE) Local Development grants. Polk County will receive approximately $1.2 million for the Northeast 49th Avenue construction project, which will provide access to 17 lots totaling more than 63 acres for industrial, manufacturing and warehouse development. The commission also approved funding for 13 trail projects, including $73,474 for the Des Moines River Regional Trail, $750,000 for the Principal Riverwalk Recreational Trail and $107,271 to the Warren County Conservation Board for Summerset Trail flood repairs.

EMC Insurance Group Inc. announced that it expects to record an after-tax realized gain of approximately $14.6 million, or $1.10 per share, in the fourth quarter on the sale of its common stock investment in Verisk Analytics Inc. Formerly known as Insurance Services Office Inc., Verisk completed its initial public offering on Oct. 7. In conjunction with that IPO, EMC sold 100 percent of its holdings of Verisk, more than 1 million shares, at a price of $21.12 per share.

FBL Financial Group Inc. will announce its third quarter 2009 earnings after the close of U.S. markets on Nov. 5. The third-quarter earnings release and financial supplement will be posted on the FBL Web site (www.fblfinancial.com) at that time. FBL will hold a conference call to discuss third-quarter earnings on Nov. 6 at 10 a.m. Iowa time, which will be available by live webcast and by phone at (877) 879-6209.

The City of Des Moines plans to offer residents free prescription drug cards through a program sponsored by the National League of Cities and administered by CVS Caremark. The discount cards, which will be available next month, will offer average savings of 20 percent off the retail price of commonly prescribed drugs. The cards may be used by any Des Moines resident, with no age, income or existing health coverage restrictions, at approximately 90 pharmacies around the city as well as more than 59,000 participating pharmacies nationwide. City officials will make a future announcement about how residents can obtain the cards.

The World Food Prize Foundation will dedicate the former Des Moines Public Library as the Norman E. Borlaug Hall of Laureates during a ceremony from 5 to 6:30 p.m. Wednesday. In addition, the foundation will unveil an original portrait of the late Borlaug, who received the 1970 Nobel Peace Prize for his efforts to combat world hunger. The event is for invited guests. Once completed, the $29.8 million restored library will be open to the public, serving as a museum, education center, home for the World Food Prize Global Youth Institute, conference center, community hall and host to other activities.