Culver traveling through eastern Iowa Thursday - KWWL - Eastern Iowa Breaking News, Weather, Closings

Culver traveling through eastern Iowa Thursday

WATERLOO (KWWL) - Governor Chet Culver is touting his plan to create new jobs in our state.  It has to do largely with rebulding from last summer's floods.

Governor culver announced during his Condition of the State address that he wanted the state to borrow $700 million for a Rebuild Iowa initiative to finance what he called "much-needed" infrastructure projects around the state.

The plan calls for creating jobs by investing in ready to go public infrastructure projects.  This would include rebuilding areas of the state hit hard by the storms and floods of last year.  The governor says that he will pay for this plan by issuing $700 million in 20-year tax exempt bonds.

The bonds would be secured with approximately $56 million in gaming tax revenues.

By the time the day is over, the govenor will have met with city leaders from Waterloo, Cedar Falls and Cedar Rapids.
In Cedar Rapids, the governor attends a ribbon cutting for a new Rebuild Iowa office.

The new office will serve as a meeting place for recovery efforts in the Cedar Rapids area.  That ribbon cutting is scheduled at 2:00 p.m. at the Community Recovery Center on 6th St. NW.

Online Producer: Mike Verlo

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