The Iowa Department of Economic Development approved economic incentives for 15 projects Thursday. D-E-D director Mike Blouin says the 15 projects will create or retain 534 jobs. Blouin says the incentive jobs have an average starting pay of 23-dollars-27 cents an hour and he says they’ve attracted 576 million dollars in capital investment.
Blouin says the jobs are in the life sciences and pharmaceutical areas. Blouin says many of the projects are in smaller towns. He says the projects are in Rock Valley, Buffalo, Emmettsburg, Marcus, Charles City, Osage, Muscatine, Coralville, Iowa City, Council Bluffs and Des Moines.
Blouin says the state money comes in a variety of forms. Blouin says some are loans, some are grants, some involve tax credits based on the company’s ability to earn taxable income, some are sales tax forgiveness and some involved local government property tax relief.
Some of the larger awards included: 655-thousand dollars to the National Genecular Institute in Coralville and Iowa City, 165-thousand dollars to the Cambrex pharmaceutical labs in Charles City, 125 thousand dollars to Alliance Technologies a technology company in Des Moines, 100-thousand dollars for the consolidation and expansion of Katelman Steel Fabrication in Council Bluffs, 400-thousand dollars for the Humboldt and Cherokee counties for biodiesel plants, 40-thousand dollars to Skyjack Equipment in Rock Valley.
For a complete list of the awards, surf to the D-E-D’s website at: www.iowalifechanging.com.
Related web sites:
Iowa Department of Economic Development