Marshalltown starts work on Edgewood extension with $2.9M grant
MARSHALLTOWN — A lot happened Wednesday morning.
Marshalltown started the extension of Edgewood Street and received an economic grant all before noon on Wednesday.
Joel Frushone, director of the Office of External Affairs and Communications in the U.S. Department of Commerce’s Economic Development Administration, visited Marshalltown to announce a $2.9 million grant during the groundbreaking of Edgewood Street extension.
“I’m pleased to announce that the U.S. Department of Commerce’s Economic Development Administration is investing $2.9 million in the city of Marshalltown to stoke industrial development by extending Edgewood Street.” Frushone said. “We’re honored to be here representing the Trump administration.”
The extension is long awaited because of the possible development it could bring into the area. The money will be matched with $1.4 million in state funds.
Frushone said the funds are expected to create more than 100 new jobs.
The route will act as a truck diversion path for the intersection at Third Avenue and Marion Street. The intersection has become accident prone because of Third Avenue’s heavy traffic and led to some fatalities.
Marshalltown Mayor Joel Greer was excited by the events. Greer has taken a number of complaints about the intersection during his time as mayor and city council member.
“This project will provide for heavy truck traffic to be diverted off Highway 14 and away from the commercial and residential areas,” Greer said.
“EDA is committed to supporting locally driven strategies designed to help communities prepare for and recover from natural disasters,” Frushone said. “Unfortunately, Marshalltown is no stranger to natural disasters.”
The grant is coming because of the 2018 tornado, but since then Marshalltown has announced two more emergency declarations – the COVID-19 pandemic and Aug. 10 derecho.
The multi-million dollar project has been in the works since 2018, and is expected to be complete by the end of 2021.
Some of the funding for the road comes from a $1.6 million RISE — Revitalize Iowa’s Sound Economy — grant through the Iowa Department of Transportation.
After the groundbreaking, Frushone and community leaders went to Marshalltown City Hall for a roundtable discussion on economic development.
Frushone said Iowa received $27 million in grants from the CARES act to small businesses. The funding from the EDA is part of $1.2 billion to help communities impacted by 2018 and 2019 disasters.
“The Edgewood extension project will create a safe roadway for truck traffic, provide additional flood protection and open acres to developable lands for future business use,” Frushone said.