The Iowa Economic Development Authority Board has awarded a total of more than $1.3 million in financial assistance to two companies that plan to create more than 130 jobs.

The IEDA board announced the awards to EVCO Holdings LLC and Josef Rettenmaier Holding USA and JRS Pharma LP on Friday.

EVCO Holdings was awarded a $300,000 forgivable loan and $45,000 in tax refunds for the purchase and renovation of a former Shopko building in Mason City to accommodate a manufacturing operation, a showroom and office space.

The total cost of the project is estimated at $6.47 million.

According to IEDA documents, EVCO Holdings is a new company that will make Street Rod EV golf cars and other recreational vehicles and electric vehicle components for target customers.

EVCO Holdings plans to create 115 jobs that pay a qualifying wage of $19.83 per hour.

According to IEDA documents, EVCO Holdings plans to purchase the building this month and begin operations in January 2023.

Josef Rettenmaier Holding USA and JRS Pharma LP supplied a wide range of pharmaceutical ingredients to pharmaceutical companies and to some food companies. The company’s Cedar Rapids facility produces microcrystalline cellulose for the pharmaceutical industry.

The company received more than $1.02 million to expand its facility in Cedar Rapids by 9,000 square feet and to purchase equipment. The planned expansion represents more than $18 million in capital improvements.

The company plans to create 18 jobs that pay a qualifying wage of $24.20 per hour.

The IEDA board on Friday also announced awards to four startups:

  • Ames-based Janas Materials Inc. was awarded a $25,000 Proof of Commercial Relevance loan for IP development and evaluation, proof of concept work and product refinement. The company develops sustainable technology that improves the appearance and application of wood stains.
  • The Agenda. Period Inc., in Brighton, received a Proof of Commercial Relevance loan for product refinement and market planning. The company created an application to better understand the four phases of a person’s menstrual cycle.
  • Stagerie Inc. of Clive was awarded a $100,000 Demonstration Fund loan for market planning, entry activities and key personnel. The company created a platform that brings together real estate agents, homeowners and stagers into a single portal for staging consultation.
  • Wayland-based ChopLocal Inc. received a $100,000 Demonstration Fund  for market planning, entry activities and key personnel. The company provides an alternative meat supply chain through an online marketplace that connects customers to butcher shops, meat processors and farmers.