The Iowa Economic Development Authority (IEDA) Board approved awards for three companies, which will assist in the creation of 163 jobs and result in over $106 million in new capital investment for the state. These projects are located in Armstrong/Estherville, Dyersville and Le Mars. The board also approved innovation funding in support of six startups located in Ankeny, Bettendorf, Clive, Coralville, Prole and Tabor.
moveero to expand operations in Armstrong and Estherville
moveero, Inc., founded in 1967, manufactures hubs, spindles and wheels for the off-highway market of agricultural, construction and mining equipment with customers in North and South America. The company plans to expand their capabilities and equipment at the Armstrong and Estherville locations. The project is expected to create 11 jobs incented at a qualifying wage of $19.05 per hour. The company was awarded tax benefits through the High Quality Jobs (HQJ) program for this $9.6 million capital investment.
Ancient Brands Milling to increase capacity in Dyersville
Ancient Brands Milling is a leading North American manufacturer of organic and non-GMO puffed grains for market-recognizable brands and co-manufacturers of cereal, granola, energy bars and plant-based alternatives. The company plans to increase its product capacity in Dyersville with the construction of a 92,000 square foot facility. The project represents a $26.5 million capital investment and is expected to create 17 jobs incented at a qualifying wage of $22.63 per hour. The board awarded the company tax benefits through the HQJ program.
Wells Enterprises to add product lines in Le Mars
Founded in Le Mars in 1913, Wells Enterprises, Inc. manufactures frozen treat brands such as Blue Bunny, Bomb Pop and Halo Top found in grocery, convenience and club stores throughout the U.S. The company plans to add new product lines and upgrade equipment at their facility. The board awarded this $70 million capital investment project tax benefits through the HQJ program. The project is expected to create 135 jobs, of which 82 are incented at a qualifying wage of $23.94 per hour.
Awards made to six startups
Axis-U of Ankeny developed an online pre-apprenticeship training platform that helps Iowa employers connect to job seekers. After starting with the healthcare industry, the company is now committed to serving manufacturing companies with their CAD, CNC and welding apprenticeship programs. The company was awarded a $25,000 Proof of Commercial Relevance loan for market analysis, product refinement, key personnel and equipment.
Bettendorf’s Learning Couture created a web-based Customizing Learning Platform that supports professional learning for teachers. It engages teachers in self-reflection and growth, allowing for teachers and leaders to monitor growth patterns over time in both teacher practices and student outcomes. The company was awarded a $25,000 Proof of Commercial Relevance loan for IP development and evaluation, market analysis, proof of concept work, product refinement, and marketing planning and entry activities.
Clive-based Groov, Inc. is a software as a service (SaaS) company for residential land developers that organizes all land development data in one place. The company was awarded a $100,000 Demonstration Fund loan for market analysis and key personnel.
ProCircular, doing business in Coralville, is a cybersecurity and compliance firm that is launching an interactive, virtual version of their table-top cybersecurity escape room game. The company was awarded a $250,000 Innovation Acceleration Propel Fund loan for IP development and evaluation, market and competitive analysis, proof of concept work, product refinement, market planning and entry activities, and key personnel.
Located in Prole, Aronson Woodworks is an artisanal, craft furniture manufacturer that utilizes recycled lumber from diseased ash trees to create hand-crafted furniture specializing in the application of the patented ClaizeTM finish. The company was awarded a $250,000 Innovation Acceleration Propel Fund loan for key personnel and equipment.
Hellcat Technologies in Tabor developed the Hellcat Office Command and Hellcat Field Command applications to optimize management efficiencies and data accuracy by digitizing paperwork and communications in the office and field. The integrated, cloud-based software platform allows for all levels of the telecom construction industry to seamlessly manage projects in real-time. The company was awarded a $25,000 Proof of Commercial Relevance loan for product refinement and market planning and entry activities.
Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval.