Federal grant a 'game-changer' for Cedar Rapids events center

U.S. Rep. Dave Loebsack on Friday afternoon announced much-hoped-for news for Cedar Rapids:

The Department of Commerce's Economic Development Administration has awarded the city of Cedar Rapids a $35 million grant to help build a new Event Center in downtown Cedar Rapids.

“This funding is a game-changer for Cedar Rapids,” Loebsack said Friday afternoon.

“By building a state-of-the-art convention center, Iowa's second largest city will be able to attract more businesses and tourists, further bolstering an economy that has been struggling in the wake of the economic downturn and the Floods of 2008,” Loebsack continued.

“Today is a great day for jobs and economic development in the city of Cedar Rapids.”

The Commerce Deparmtent funds will provide a hefty piece of a $67 million project to upgrade the 30-year-old U.S. Cellular Center arena and build a new Event Center convention facility next to it.

Loebsack also announced that the EDA will award the Cedar Rapids Area Chamber of Commerce a $3 million grant to help it build a Regional Commerce Center and Small Business Incubator in the downtown.