A state board has approved tax breaks for a project that will expand a soybean processing plant in northwest Iowa.
Ag Processing, Inc., known as AGP, plans to spend more than $71 million to upgrade its facility in Sergeant Bluff. The improvement will speed up the crush rate of soybeans. AGP has refineries in Sergeant Bluff that process vegetable oil and soybean oil. The company was formed in 1983 when Land O’Lakes, Boone Valley Cooperative Processing Association and Farmland Industries merged their soybean processing assets into a single company.
The Iowa Economic Development Authority Board has also approved state grants for four different start-up companies in central Iowa.
NanoSpy, a company from Iowa State University’s Startup Factory, has developed rapid tests to detect salmonella in food processing plants and it’s getting $25,000 from the State of Iowa. Ames-based Mazen Animal Health makes edible vaccines for livestock and other animals. The company plans to use its $125,000 state grant to market its swine vaccine. Townhall, another Ames company, is getting $25,000 from the state to support its development of a video conferencing app for large groups meeting remotely.
Lola’s Fine Sauces in West Des Moines is getting $100,000 in state money to support expanded marketing of the company’s hot sauces, salsas, a seasoning mix and a Bloody Mary mix. The products are already being sold in 10,000 retail locations.
