Valley Junction at $20M in ‘Main Street’ investment
BUSINESS RECORD STAFF May 4, 2015 | 8:16 pm
1 min read time
286 wordsAll Latest News, Economic DevelopmentThis year’s annual Main Street Iowa awards included a nod to Valley Junction in West Des Moines, which has reached the $20 million mark in private investments in the purchase and revitalization of properties. Elsewhere in Iowa, Manning has attracted $1 million, Colfax $2 million, Chariton and Marion $5 million each, and Mount Pleasant $10 million.
“In my 1985 Condition of the State address to the Iowa Legislature, I proposed finding the funds to create Main Street Iowa,” said Gov. Terry Branstad. “We knew from the very beginning that Main Street was not a quick-fix solution but rather an incremental approach to fostering positive change. In my travels across the state, I have seen the program at work in small towns, midsize cities, urban centers and neighborhood commercial districts. It has had far greater impact than we ever could have imagined in 1985.”
In 29 years, Main Street Iowa has tracked over $1.4 billion in private investment in the purchase, construction and rehabilitation of property in participating commercial districts. In addition,volunteers have logged over 2.5 million hours.
Debi Durham, director of the Iowa Economic Development Authority, said the Main Street Iowa program helps attract business and jobs, and is a good investment for taxpayers. “For every dollar the state of Iowa has invested in operating the state Main Street program, the private sector in those communities has invested $93 into building improvements and acquisitions,” based on fiscal year 2014 data, she added.
Bloomfield, Greenfield and Le Mars received recognition for their 20 years of participation as designated Main Street communities and Dubuque for 30 years. Chariton, Jefferson and Lansing were recognized for the successful completion of Main Street’s three-year startup phase in commercial district revitalization.