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Economic Development

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Iowa paid $29M-$30M in fraudulent unemployment claims, agency head reports

Des Moines Register: Iowa has paid $29 million to $30 million in fraudulent unemployment insurance claims since the COVID-19 pandemic began, the head of the state’s workforce agency says. During a quarterly board meeting, Iowa Workforce …

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Iowa’s rural economy expands in May as hiring increases

Iowa’s rural economy improved in May behind solid job gains, according to a survey of rural Main Street bankers released Thursday.

Creighton University’s Rural Main Street Index for Iowa jumped more than 10 points to …

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IEDA board announces more than $4.1 million for company expansions, relocations

From a partnership between Archer Daniels Midland Co. and a Japanese company to produce synthetic spider silk, to a Brazilian company moving its global headquarters to the Iowa State University Research Park in Ames, the …

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Iowa gives ADM, Japanese firm $1M each for ‘holy grail’ bid to make artificial spider silk

Des Moines Register: The state is giving food processing giant Archer Daniels Midland a $1 million tax credit for an improbable-sounding project: to turn corn into synthetic spider silk. The company plans to use its wet …

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State board expected to decide in June which projects receive $100 million in incentives

The Iowa Economic Development Authority board is expected to decide at its June 18 meeting what projects will receive funding through the state’s Iowa Reinvestment Act program, according to a board spokesperson.

Board members in …

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Iowa lost 5,800 jobs in April; more than half were in construction

Iowa companies shed 5,800 jobs in April, dropping the state’s total seasonally adjusted nonfarm employment to 1.51 million, new data from the Iowa Workforce Development shows.

In March, the state had 1.52 million nonfarm-related jobs; …

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Waukee hires economic development coordinator

Jennifer Brown (pictured) has been hired as the city of Waukee’s economic development coordinator. Brown most recently worked for the Fox Cities Chamber of Commerce in Appleton, Wis., where she oversaw the group’s business retention and expansion program.…
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Consultant will help shape vision of post-COVID downtown Des Moines

Before the start of the pandemic, more than 80,000 people each weekday poured into downtown Des Moines, where they not only worked but also supported restaurants and coffee shops, boutiques and other retailers.

The pandemic …

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Collins Aerospace aims to cut $1 billion by 2025

Cedar Rapids Gazette: Collins Aerospace’s cost-cutting goal of $600 million is now up to $1 billion by 2025, company President Stephen Timm told investors Tuesday. “About half” of the cost reductions already have happened, a company …

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Des Moines sees upward pressure on public and private wages

Axios Des Moines: Wages are rising in Des Moines as employers try to lure potential workers — and it’s especially true for low-training jobs. Wages for local restaurant hosts have risen to $11-12 an hour and …