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New Iowa Economic Development Authority Board Awards Incentives to Create up to 142 New Iowa Jobs

November 21, 2011 (DES MOINES, IA) – At its second official board meeting, the new Iowa Economic Development Authority (IEDA) Board approved awards today that will create up to 142 jobs in Iowa and retain another 17 jobs.

The board approved assistance for planned or proposed projects located in Le Mars, Nevada and Eddyville.

“Our commitment to create jobs is stronger than ever,” said Governor Terry Branstad. “By investing in next generation innovations and technology and creating high-paying jobs in communities across the state, we are staying true to our pledge to continue moving Iowa forward toward economic prosperity.”

The incentives awarded today went to companies in the areas of food processing and biosciences.

“We thank these companies for their confidence in Iowa. We look forward to working with them on continued expansions as they prosper and create more jobs and benefit from Iowa’s attractive business climate,” said IEDA director Debi Durham.

Le Mars company plans to expand to meet product demand
The board approved tax incentives to BoDeans Cone Company through the High Quality Jobs program. The company, established in 2001 by Bo and Dean Jacobson, produces approximately 700 million cones a year for dairy clients in the United States and internationally. The proposed project is a 15,000 sq ft. addition onto the north end of the cone plant to accommodate two ovens, several line extensions, baking chain, mix system and flour silo. The project is expected to create nine jobs, of which three will be supported by state incentives.

Ohio technology development company proposes to construct a new biorefinery center in Nevada
The board approved $500,000 in direct financial assistance as well as tax incentives to Thesis Chemistry, LLC, Ohio-based with an Ontario, Canada R&D subsidiary, to construct a new biorefinery in Nevada, Iowa, for the production of sustainable chemicals from a component of non-food agricultural biomass. Thesis Chemistry will be the first in North America to produce these chemical products from renewable biomass. Completion of the initial biorefinery production assets will be completed in 2014, with additional product capacity added progressively through 2016. Thesis Chemistry will also build a corporate headquarters office facility and a corporate R&D center adjacent to the biorefinery and a pilot manufacturing facility, in conjunction with the BECON biomass research center also located in Nevada. The project is expected to create 130 jobs, of which 61 will be supported by state incentives.

Eddyville company seeks assistance to produce vital raw material for chemical production
The board approved $150,000 in direct financial assistance as well as tax incentives to Wacker Chemical Corporation’s Biosolutions Division. This project will focus on bringing a vital raw material needed to produce cyclodextrins (CD) into local production. CDs are used in a wide array of applications from household products, to foods and dietary supplements. The project is expected to create three jobs and retain 17, of which 13 will be incented.

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