Five companies and seven startups received awards today from the Iowa Economic Development Authority for projects that will help create 730 jobs and result in more than $180 million in capital investment in Iowa.

The established companies are in Cedar Rapids, Oelwein, Charles City and West Des Moines. The startups are in Ames, Cedar Rapids, Coralville, Garnavillo, Slater, St. Charles and West Des Moines.

The largest award approved today was for BAE Systems, which received more than $7.5 million in investment tax credits through the High Quality Jobs Program. 

The company, which does research, development and implementation of commercial and defense electronics for aerospace and defense technology companies, is in the process of acquiring Collins Aerospace in Cedar Rapids. Their project includes the construction of a 200,000-square-foot research and development and manufacturing facility. The cost of the new facility is estimated at $55 million, with the overall project representing a $115 million capital investment in Iowa.

The project is expected to create 650 jobs, of which 628 will pay $22.27 per hour.

The board today also awarded JRS Pharma LP $844,500 in tax credits to build a new facility in Cedar Rapids. 

JRS, which supplies inactive ingredients such as binders, thickeners and stabilizers to the pharmaceutical excipient industry, also operates in Germany, Finland, India and China. The  ingredients are primarily sold to companies with sales to the food division for food applications, according to the release from IEDA. 

The tax credits were awarded through the High Quality Jobs Program. The project represents a $1.9 million capital investment that will create 18 jobs, 16 of which will pay $22.27 per hour.

Other awards approved today were:
  • Cambrex Charles City Inc.: $244,000 in sales, service use tax credits, and a $250,000 forgivable loan for a project that will create 32 jobs paying $17.81 per hour. The company, which will expand its Charles City facility, makes active pharmaceutical ingredients and pharmaceutical intermediates for both the generic and branded human pharmaceutical markets, with the ingredients being used for the treatment of ADHD, smoking cessation, oncology, Crohn’s disease and others. The expansion represents a $48 million capital investment. The company also received $719,000 in property tax exemption from the city at 90% for nine years.
  • ICE Manufacturing in Oelwein was awarded $103,000 in tax credits, a $125,000 forgivable loan and a $125,000 zero percent interest loan The company is an original equipment manufacturer for the semitrailer market. It plans to expand its existing facility in Oelwein, purchase equipment and make other upgrades. The company plans to create 33 jobs paying $16.35 per hour.
  • Claim DOC LLC in West Des Moines was awarded $844,500 in tax credits to buy an existing building in West Des Moines and renovate it into office space to house current employees and allow for an expanded workforce. The company, which services self-funded health benefit plans for employers, plans to create 54 jobs, of which 21 will be paid $26.67 per hour.

The seven startups that received award today include:
  • 3D Health Solutions Inc. of Ames, incubated from the Iowa State University Startup Factory, was awarded a $25,000 Proof of Commercial Relevance loan for proof of concept work and key personnel. The company seeks to improve preclinical screening methods for therapeutic drugs for research and development.
  • Coralville-based Higher Learning Technologies was awarded a $400,000 Innovation Acceleration Expand fund loan for product refinement. The company creates professional health care education products and creates video, audio and text materials in platforms that work across all PC and mobile devices.
  • Aeroseeder in Garnavillo was awarded a $25,000 Proof of Commercial Relevance loan for product refinement, equipment and personnel. The company builds drone seeders to carry out cover crop seeding.
  • Gross-Wen Technologies in Slater received a $250,000 Innovation Acceleration Propel fund for product refinement and key personnel. The company, an Iowa State University spinoff, has a patented algae system known as the revolving algal biofilm treatment system and marketed under the RABTM brand. The technology enables the effective and sustainable use of algae to remove nitrogen and phosphorus from wastewater.
  • Armorloy, based in St. Charles, was awarded a $25,000 Proof of Commercial Relevance  loan for market planning/entry and key personnel. The company applies advanced ceramic alloy armor to products for everyday use and reengineers everyday products using advanced ceramic technology to make longer-lasting, more durable products
  • West Des Moines-based Vemtowa, doing business as SuperBio, also was awarded a $25,000 Proof of Commercial Relevance loan for IP development and evaluation, proof of concept work and equipment. The company makes, markets and sells SuperBio Probiotic. According to the IEDA release, the company plans to work on treating lung injuries by producing a product that can work alone or in combination with other treatments for lung injuries.
  • Cedar Rapids-based Stratafolio, which develops a cloud-based software application that provides asset and property management analytics for people who own and manage commercial real estate and need a tool to streamline their operations, was awarded a $100,000 Demonstration Loan Fund for product refinement, market planning/entry, and key personnel.