The Iowa Economic Development Authority board awarded nearly $900,000 in tax credits to two companies at its Dec. 20 meeting through the state’s High Quality Jobs program that the economic development agency says will create a combined 223 jobs and $20 million in capital investment.

The board also authorized $1,156,000 in grants to four projects earlier this month through its Community Attraction and Tourism Grant program, including a $500,000 award for the city of Pella’s proposed $33 million recreation center.

The CAT grant program awards financial assistance to communities for construction of recreational, cultural, educational or entertainment facilities that enhance the quality of life in Iowa, according to an IEDA news release.

Jobs tax credits
Kooima Co. LLC, a Rock Valley-based specialty component fabricator, will receive $479,000 in state tax credits for its estimated $13.86 million plan to lease an 82,500-square-foot facility and install a tube laser material handling system and additional tube lasers, according to an IEDA project report.

The company specializes in tube laser cutting, machining, welding, robotic forming and tube bending. The company told IEDA that the expansion will allow Kooima to improve efficiencies and become more competitive nationally, the report says.

A breakdown of the award in the IEDA project report shows Kooima will receive $464,000 in investment tax credits from the state as well as $15,000 in a research tax credit in exchange for the creation of 11 jobs.

The $18.86 million project includes $11.5 million in costs for new manufacturing equipment and machinery, $1.66 million in capital lease costs and $500,000 for research and development, the report says.

The city of Rock Valley will also include a 10-year tax abatement to the project valued at $987,115 and paid through tax increment financing.

The Business Record previously reported on the $413,900 awarded to a Holmes Murphy & Associates subsidiary for the insurance brokerage’s $10.6 million expansion of its Central Iowa office footprint in West Des Moines, which the company says will allow it to create 212 new positions.

CAT grant awards

• Pella’s proposed $32,988,000 recreation center will be built at the 105-acre Pella Sports Park, according to the IEDA project report. The plans for the 63,590-square-foot facility include an eight-lane competition swimming pool, an indoor turf facility, two hard-surface gyms, a child care area and an indoor walking and running track. The city plans to close its current indoor pool once the new recreation center is operational. The $500,000 grant is 1.5% of the project cost, which breaks down to $3.15 million for site preparation; $25.7 million for construction; $1.1 million for fixtures, furniture and equipment; $308,306 for public art and landscaping; $2.38 million for architectural and engineering services; $1 million for construction; $1.4 million for contingencies; and $2.1 million for work already completed, the report says. The project is expected to bid in the first quarter of 2025 and start construction in May 2025.

• The board awarded National Czech and Slovak Museum & Library in Cedar Rapids a $42,500 CAT grant to renovate and improve the Orloj Clock Tower, modeled after the famous Prague Orloj, according to a news release from IEDA. The project will add features highlighting Czech composers, complete repairs and finishes, and redevelop the plaza around the clock tower. The total project cost is $685,000.

• The Grundy County Conservation Board was awarded $214,000 to pave the remaining 1.3 miles of trail. The $1.1 million project will complete the 7-mile stretch of the Pioneer Trail between Reinbeck and Grundy Center, the release says. The 12-mile trail will interlink four communities and several recreational trails along the route.

• The $2 million city of Maquoketa and Jackson County Prairie Recreation Area project was awarded $400,000 to make large-scale improvements, the release says. The project includes streambank restoration for fishing, viewing and camping; construction of shelters, restrooms, trailheads and bridges; a trail connection from the recreation area to the city limits; and the addition of an 18-hole championship-caliber disc golf course.