The Iowa Economic Development Board has approved awards to projects or proposals that could create nearly 100 jobs around the state. Kathy Anderson, a spokesperson for the Iowa Department of Economic Development, says the largest award will benefit a project in Davenport.
The IED Board approved tax incentives for an existing manufacturing business called Phoenix Closures. The company is planning to build a 254,000-square-foot facility to better accommodate new product lines. Anderson says the City of Davenport was awarded a $250,000 forgivable loan to develop infrastructure around the site.
Officials with Phoenix Closures anticipate the expansion will create dozens of new jobs. “They’re anticipating 68 new jobs, 19 of which are supported by state incentives,” Anderson said. “Another 60 jobs are expected to be retained.” The IED Board also awarded $100,000 in direct financial assistance and tax incentives to Warren Distribution in Council Bluffs. The company manufactures and distributes automotive lubricants and other fluids.
Anderson says Warren Distribution plans to construct a new warehouse to replace one that was damage by winter storms in 2010. The project is expected to create two jobs and retain nine others. A startup company in Iowa City, Radiology Protocols, was awarded a $25,000 grant.
Anderson says the financing will help with business plan development and website enhancements. The other awards include a $10,000 grant to Energy Control Technologies in West Des Moines and a $25,000 grand and $75,000 royalty agreement to Inteconnect, Incorporated in Cedar Rapids.