The NewBo City Market in Cedar Rapids has been awarded a $500,000 Community Attraction and Tourism (CAT) grant from the Iowa Economic Development Authority (IEDA) Board.
The grant, announced by the IEDA Nov. 15, will be used to help execute the market’s “Next Level Local” project, which will enhance the nearly 21,000-square-foot existing market and add nearly 9,000 square feet of new construction.
The “Next Level Local” project, with a total budget of $6.1 million, would add a second floor to the interior of the market’s Rotary Hall. The plan includes balconies for outdoor patio space, a free coworking lounge, a podcast studio, a mental health therapy clinic, a family sanctuary, a food production kitchen, a grocery store and an indoor stage for live events.
As currently planned, construction is slated to begin in January 2025 and finish in the summer.
There are also plans to open the market seven days per week once the expansion is complete. Currently the market is open Wednesday through Saturday from 10 a.m. to 8 p.m. and Sunday from 10 a.m. to 4 p.m.
The NewBo City Market is accepting donations for the “Next Level Local” campaign at newbocitymarket.org/next-level-local.
The CAT program provides financial assistance to communities for the construction of recreational, cultural, educational or entertainment facilities that enhance the quality of life in Iowa. Award recommendations for these funds are made by the CAT Review Committee to the IEDA Board for approval.
In September, the U.S. Commerce Department’s Economic Development Authority (EDA) awarded a $1.3 million grant to the NewBo City Market “for infrastructure improvements to support agricultural businesses.”
According to the EDC, the grant will drive workforce growth and support new small businesses at the NewBo City Market, and will be matched with $1.3 million in local funds. It’s expected to create 40 jobs.
