IEDA board announces awards representing $23 million in capital improvements, creation of 76 jobs
An Ames plastics manufacturer and three Central Iowa startups, including a smart toilet seat maker and a tilapia farm, were awarded financial assistance today from the Iowa Economic Development Board.
The board also awarded tax benefits to an Urbandale company to build a training facility.
The board awarded Amcor Rigid Plastics tax benefits through the High Quality Jobs Program to expand its Ames facility. The project, which represents a $3.1 million capital investment, will allow Amor to expand to bring six additional production lines to Ames.
The project is expected to create 42 jobs, with six of those positions paying the qualifying wage of $27.25 per hour.
Amcor is among the world’s largest makers of rigid plastic packaging for the food, beverage, spirit, and personal home care and health care industries. It operates in 13 countries and 59 locations, including Ames, Des Moines and Centerville.
The board also awarded $710,000 in tax benefits through the High Quality Jobs Program to Iowa Bankers Insurance and Services Inc. to build a training center in Urbandale.
The company will use the building to recruit and train the workforce it needs to support its growth. The project will create 18 jobs, 12 of which will pay the qualifying wage of $30.98 per hour.
Three Central Iowa startups were also awarded financial assistance from the state.
Des Moines-based Trade Labs, a social marketplace for stock trading education, was awarded a $25,000 Proof of Commercial Relevance Loan for software development, research, and legal and administrative expenses. The platform allows experienced traders to post and create content for inexperienced traders for a monthly subscription fee.
NXGenCare in Roland developed a smart toilet seat to help skilled nursing communities and health care centers automate the charting process for residents’ behavior. It was awarded a $25,000 Proof of Commercial Relevance Loan for proof of concept work and product refinement. The technology can help identify early signs of health problems.
The board also awarded a $100,000 Demonstration Fund loan to Eagle’s Catch, an aquaculture company in Ellsworth. The company is building one of the world’s largest indoor fish farms to produce tilapia. The loan will help the company buy equipment to optimize its production.
Other companies to receive awards today were:
– Iowa City-based Apollo Technologies, an internet-based hiring platform designed to match health care facilities requiring temporary positions with healthcare providers. The company received a $25,000 Proof of Commercial Relevance loan to intellectual property development and evaluation, proof of concept work, product refinement, market planning and key personnel. The hiring platform allows clients to rapidly fill positions on an on-demand basis.
– Marion-based ShopWhereILive received a $25,000 Proof of Commercial Relevance Loan for market analysis, product refinement, digital marketing and IP Development. The company helps local businesses, artisans and service providers overcome the obstacle of traditional in-person-only sales.
– Applichem Inc. was awarded a $676,000 capital investment tax benefit through the Targeted Jobs program to help the company relocate to Council Bluffs. The move will allow the company additional space needed to expand production. Applichem Inc. makes and distributes adhesives for industrial applications, such as glue, sealants and tapes. The move will create 16 jobs, with 12 of the positions paying the qualifying wage of $21.30 per hour.
Editor’s note: This story was corrected to reflect that the board also awarded $710,000 in tax benefits through the High Quality Jobs Program to Iowa Bankers Insurance and Services Inc. to build a training center in Urbandale.