Five grants to support start-ups awarded
Five Iowa businesses in the process of expansion received financial awards from the Economic Development Board and Iowa Department of Economic Development on Thursday.
The awards are part of an effort to help support increased production and business growth in Iowa.
“It is exciting that three of these projects are start-up companies that have chosen to pursue their business in Iowa,” Gov. Chet Culver said in a release.
Here is a breakdown of the five businesses receiving awards:
Siemens Energy Inc. – The Fort Madison-based business was awarded $180,000 to support the $1.35 million extension of a rail spur that services Siemens. The extension allows the company to add an additional 15 rail cars of capacity, which would allow it to produce 660 windmill rotor blades per year.
Mississippi River Distilling Co. – The Le Claire-based start-up received $95,000 to aid it in its plans to be the first micro-distillery in the state to focus specifically on producing small-batch, handmade vodka, gin and bourbon. The release of their first shipments is anticipated in late spring 2011.
J&J Solutions Inc. – This Coralville-based start-up received $275,000 to help it in its efforts to manufacture medical devices that optimize the safe handling of hazardous medication, such as the chemicals used to treat cancer.
Responsible Transportation – This Iowa City-based business was awarded $25,000 to aid it in its efforts to become the first pound for unwanted horses serving the Midwest.
Industrial Design Fabrication & Installation Inc. – This Moville-based business received $125,000 to support the creation of nine new and 16 retained jobs at the company, which designs, fabricates and installs products for the food processing industry.