Economic Development

Raccoon Valley Electric Cooperative (RVEC) supports the growth and vitality of the communities we serve by investing in economic development.

Our focus is on creating jobs, supporting local enterprises, and ensuring the infrastructure is in place for future growth.

⾕ Economic Business Development > Economic Development

At Raccoon Valley Electric Cooperative (RVEC), we believe in powering more than just homes and farms—we power potential. Through strong partnerships and decades of experience, we help businesses start, expand, and thrive in west-central Iowa. Whether you’re launching a new venture, relocating, or growing an existing operation, RVEC is here with the tools, connections, and commitment to help you succeed.

RVEC has supported successful local projects through strategic collaboration with organizations such as Corn Belt Power Cooperative and the Iowa Area Development Group (IADG), as well as our regional development partners. From site development to funding, we’ve helped build a foundation for manufacturing, ag innovation, and small business growth across Carroll and Sac Counties.

Our team offers professional guidance and customized support for every stage of business development, including:

Site selection assistance
Power needs and cost analysis
Load management and energy efficiency solutions
Financial assistance navigation
Labor market data and workforce studies
Entrepreneur and small business support
Business plan development
Infrastructure and utility planning

We connect businesses with a range of financial tools to make growth possible:

Revolving Loan Fund (RLF) – low-interest loans for business startups or expansions
Corn Belt Power Intermediary Relending Program – flexible financing for new or growing companies
REDL&G Program – USDA-backed 0% interest pass-through loans
Tax Increment Financing (TIF) – access to upfront capital via local partnerships
Enterprise Zone & Job Creation Incentives – potential tax credits and investment benefits
Customized funding packages – built with local banks, development authorities, and lenders

Eligibility and approval vary depending on the project and program criteria.

As a member of Corn Belt Power and Touchstone Energy® Cooperatives, RVEC leverages a robust network of economic development allies, including:

Iowa Area Development Group (IADG) – site selection, marketing, financial packaging
Local Development Groups – Carroll Area Development Corporation, Sac Area Development Corporation, Western Iowa Advantage, and others
Municipal and County Governments – partners in infrastructure, incentives, and planning

Locating your business in RVEC’s service territory offers a range of competitive state and local benefits:

No personal property (inventory) tax
No sales/use tax on manufacturing machinery or electricity for manufacturers
50% federal tax deductibility on Iowa corporate income tax
Single-factor, non-unitary tax system based on Iowa sales
Incentives through the New Jobs Tax Credit and Enterprise Zones

We’re ready to work alongside you, offering reliable power, personalized service, and a strong commitment to the community. Let RVEC be your partner in powering success.

Contact Us:
Raccoon Valley Electric Cooperative
Phone: (712) 659-3649
Email: info@rvec.coop
Website: www.rvec.coop

Partner Contacts:
Corn Belt Power Cooperative – (515) 332-2571
IADG – (800) 888-4743 | iadg@iadg.com

The RLF is intended to:

• Create and retain local jobs

• Diversify the rural economy

• Improve education and workforce skills

• Upgrade healthcare and community facilities

• Strengthening public infrastructure

By combining local leadership with financial resources, RVEC collaborates with businesses and community organizations to expand opportunities throughout Western Iowa.

🌟 Proven Success – RVEC has a strong track record of helping businesses expand, supporting entrepreneurs, and partnering on community development projects.

🤝 Strong Partnerships – We collaborate with Corn Belt Power Cooperative, Iowa Area Development Group (IADG), and USDA programs to bring more resources to your project.

👩‍💼 Friendly Expertise – Our team is here to provide hands-on assistance, including:

• Site selection

• Power needs and cost analysis

• Load management planning

• Business and project planning

• Entrepreneur support

• Labor force studies

• Financial packaging assistance

RVEC’s RLF and partnerships provide access to multiple funding programs:

• RVEC Revolving Loan Fund (RLF) – low-interest loans for new or expanding businesses

• Corn Belt Power Intermediary Relending Program – flexible lending for business growth

• USDA Rural Economic Development Loan & Grant (REDL&G) – 0% pass-through loans for community projects

• Tax Incentives – including Tax Increment Financing (TIF), abatements, and Enterprise Zone benefits

• State & Local Programs – through the Iowa Department of Economic Development

All programs are subject to eligibility requirements, adequate security, and approval by the RVEC Board.

• Minimum Loan Amount: $10,000

• Project Match: At least 20% must be financed by other sources

• Loan Term: Up to 10 years

• Interest Rate: Typically, 2–4% (based on prime rate and project impact)

• Collateral: All loans must be secured (first line preferred)

• Administration Fee: Up to 1% annually of the unpaid principal balance

📌 Up to 20% of the RLF may be used for residential housing projects, though consumer home loans are not eligible.

Get Started/Application

If you are interested in applying, download and complete the RLF application and return it to our office.

For more information, contact:
Keaton Hildreth
Chief Executive Officer
📞 712-659-3649
✉️ keatonh@rvec.coop

You may also contact our partners:

• Corn Belt Power Cooperative: 515-332-2571

• Iowa Area Development Group (IADG): 800-888-4743 | iadg@iadg.com

⚖️ Equal Opportunity Statement
Raccoon Valley Electric Cooperative is an equal opportunity provider and employer. Learn more about filing a USDA program discrimination complaint.

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