$1.3 million award to enhance and grow NewBo City Market and create 40 new jobs

Cedar Rapids, Iowa – According to U.S. Secretary of Commerce Gina Raimondo’s announcement on Tuesday, NewBo City Market in Cedar Rapids will get an additional $1.3 million grant for infrastructure upgrades.

The Economic Development Administration (EDA) award will help with the facility’s expansion and restoration.

According to the EDA, by opening up the market to more small firms, the grant—along with a matching $1.3 million in municipal funds—is expected to contribute to the creation of 40 jobs.

Secretary of Commerce Gina Raimondo stated, “This EDA investment will allow new businesses to start and grow in Cedar Rapids, supporting agricultural entrepreneurs and creating a stronger regional economy.”

Senator Chuck Grassley of Iowa expressed his satisfaction with the state’s utilization of federal funding.

“Individuals who have attended my town meetings and Cedar Rapids leaders have shared with me the difficulties small businesses face, including as deteriorating infrastructure and a shrinking labor pool,” Grassley stated. “This award will enable local business owners to keep pursuing their goals and showcasing their abilities to the Cedar Rapids community.”

The East Central Iowa Council of Governments’ regional efforts have made the project possible.