The Iowa Department of Economic Development approved loans for ten businesses that, in return, promise to create jobs. IDED spokesperson Shawn Rolland says the projects cover nearly every part of the state. He says the ten awards are expected to create or retain 521 jobs and generate about $100 million in investment.
One of the biggest projects involves Heartland Energy Solutions of Mount Ayr. The new company, that plans to add 106 jobs, is receiving a $300,000 loan from the state. "It’s a wind turbine and turbine blade manufacturing plant," Rolland explains, "and it just adds to Iowa’s leadership in the industry." Heartland will not be required to repay the loan if the 106 jobs are created.
Another project in the southeast Iowa town of Keokuk will receive a $200,000 loan and tax benefits. Rolland says Keokuk Ethanol Company plans to create 20 jobs paying $21 an hour. The other projects awarded state loans or tax incentives are located in Shell Rock, Greene, Boone, West Des Moines, Charles City, Steamboat Rock, and Lone Tree. Details about those projects are available on the Iowa Department of Economic Development’s website .