224 East Second Street
Ottumwa, IA 52501
Phone: (641) 684-6551
Fax: (641) 684-4894

ECONOMIC DEVELOPMENT

The Area 15 RPC is the designated Economic Development District (EDD) organization for the ten county Region, and was awarded this designation in 1974 by the US Department of Commerce – Economic Development Administration (EDA). The purpose of the district is to coordinate economic development activities throughout the region to create jobs, foster more stable and diversified economies, and to improve living conditions of the area. 

The Area 15 RPC coordinates Opportunity2 is a regional economic development organization that consists of economic development offices of ten Southeast Iowa Counties as well as local utility companies and Indian Hills Community

College. Together, Opportunity2 coordinates efforts to market SE Iowa development opportunities to new and expanding businesses. Opportunity2 offers resources to demographic information, site and building database, workforce data, and partner links. Click Here to visit the Opportunity2 website.

Regional Economic Development Inc. (REDI)

An outgrowth of the RPC’s economic development efforts was the creation of the regional business and industry revolving loan fund (RLF). REDI Inc. is an affiliate organization of the Area 15 RPC in that the RPC staff provides administrative oversight of the program. 

 

Formed in 1990, the RLF provides low-interest loan for business/industry retention, expansion and start-up activities.  REDI funds are available for fixed asset and/or working capital loans for activities that create new or retain existing jobs within the Region.  The US Department of Commerce – Economic Development Administration was the initial funding source for this business revolving loan fund; the initial capitalization of the fund was a $450,000 Title IX grant.  

REDI Inc. also assists local governments in the administration of their local revolving loan funds.  Local RLF assistance can be coupled with REDI loans for a complete business/industry financial package.  As local RLF funds are repaid by business/industry, the proceeds are returned to the local fund to recapitalize it for future loans.

Since the program's inception, nearly $6 million RLF dollars have been loaned out, and over $46 million in additional funds invested.

Recent REDI Loans

2018

-Creative Edge $110,000 REDI, $364,000 Other/private, 9 new full-time jobs/27 retained jobs in Fairfield

2017

- Liberty Rotational Molding $105,000 REDI, $223,650 Other/private, 7 new full-time jobs in Ottumwa

- C&C Manufacturing Land Company, $225,000 REDI, $3,200,000 Other/private, 29 new jobs in Ottumwa

 

2016

- Fremont Style, $15,000 REDI/SELP, 1 new business/1 new job in Fremont

- Fairfield Organics, $150,000 REDI, $300,000 other/private, 15 new jobs created in Keota

- Ward Glass, $15,000 REDI, 1 new business/1 new job in Ottumwa

- RMA Armament, $225,000 REDI, $631,305 other/private, 20 new jobs created in Centerville

- Angstrom Precision Molding, $160,000 REDI, $440,000 other/private, 7 jobs retained 7 new jobs