The Iowa Economic Development Authority Board has approved awards for two companies.
The board awarded a $95,000 forgivable loan and tax benefits to United Equipment Accessories, which makes various equipment parts. The company plans to spend $4 million to expand its operations to Boone County and it is expected to create 25 jobs.
Virnig Manufacturing, headquartered in Minnesota was awarded tax benefits. The company produces attachments for skid steers, compact tractors, wheel loaders, mini skid steers, and mini excavators, and plans to purchase a building in Fort Madison to make equipment.
The company says it will invest nearly $11 million dollars and is expected to create 35 jobs.