Former BELL Startup Receives IEDA Financial Assistance
The Iowa Economic Development Authority (IEDA) board awarded financial assistance to 10 companies and one community for job creation and expansion projects. The awards will assist in the creation of 238 new jobs, retention of 142 jobs, and will result in $77 million of new capital investment to the state.
"Today's announcements serve as another example of Iowa's strong economy," said Gov. Terry Branstad. "The projects coming out of the Iowa Economic Development Authority this month will inject not only new jobs into Iowa communities, but also capital investment that will spur even more growth."
The board approved assistance for planned or proposed projects located in Ames, Farley, Hamburg, Dubuque, Polk County, Clinton, Keokuk County, Orange City, Urbandale, and Davenport.
"It was a busy month for the IEDA board with 10 companies planning projects in Iowa," said Debi Durham, director of the Iowa Economic Development Authority. "Our sales strategy is continuing to pay off and we are seeing the fruits of that labor."
Meat processor to establish operations in Keokuk County
The board awarded tax benefits to Responsible Transportation through the Enterprise Zone program to purchase a meat processing facility which has been closed for several years. The company will renovate the facility to accommodate its operational needs. The early stage company will transport unwanted horses, humanely euthanize, recycle the carcasses, and manufacture animal feed. The project is expected to create 27 new jobs and represents a $1.6 million capital investment.
Editor's Note: Responsible Transportation is a former Bedell Entrepreneurship Learning Lab (BELL) startup.