(NIT photo)
DES MOINES – Hungry summertime kids won’t get help from the Republican-dominated Iowa government, but big business handouts are there to be had as socialism for the rich runs rampant out of Des Moines, where the wealthy and connected can escape taxes or simply cash checks to enhance their profits, all under the guise of “economic development”.
Today, the Iowa Economic Development Authority (IEDA) Board approved “awards” (socialist handout of taxpayer dollars) for companies established in Ankeny and Cedar Rapids, which will assist in the creation of 16 jobs and result in $72.7 million in new capital investment for the state. The board also approved assistance for startups in Ames, Coralville and Fairfield. In addition, a project in West Branch received a Community Attraction and Tourism (CAT) grant and an event in Polk County received a Sports Tourism Marketing grant. IEDA recently approved assistance from Iowa’s State Small Business Credit Initiative (SSBCI) Innovation Fund for a startup in Clive.
Mrs. Clark’s Foods to expand in Ankeny
Mrs. Clark’s Foods manufactures liquid food products including juices, salad dressing, mayonnaise and barbecue sauce, distributing them nationally and internationally. The company plans to construct a 90-000-square-foot building and purchase new equipment to accommodate an additional line. The project represents a $25.7 million capital investment and is expected to create 12 jobs, of which one is incented at a qualifying wage of $35.71 per hour. The board awarded the company tax benefits through the High Quality Jobs (HQJ) program.
Ingredion to construct new facility in Cedar Rapids
Ingredion is an ingredients solution company that makes sweeteners, starches, nutrition ingredients and biomaterials used in everyday products from foods and beverages to paper and pharmaceuticals. The company plans to construct a new 9,000-square-foot facility with electrical upgrades and additional equipment for a corn starch dryer, storage and bulk loading process that will serve to meet the growing demand for plant-based products. The project represents a $47 million capital investment and was awarded tax benefits through the HQJ program. It is expected to create four jobs incented at a qualifying wage of $32.64 per hour.
Awards made to three startups
Ames-based Janas Materials, Inc. develops sustainable technology for the coating industry that improves the appearance and application of wood stains. Their product in development is an additive for water-based stains made by coating manufacturers to achieve the same quality color consistency as oil-based stains, but as a more environmentally friendly alternative. The company was awarded a $100,000 Demonstration Fund loan for product refinement, key personnel and equipment.
Poultry Patrol, Inc., based in Coralville, created a poultry tending robot to stimulate bird movement in turkey barns and alert farmers of spills, health and maintenance. The robot’s support in the animal husbandry process keeps the turkeys healthier and saves farmers time and money. The company was awarded a $50,000 Proof of Commercial Relevance (POCR) loan for key personnel and proof of concept work.
Fairfield’s Better Natural, LLC developed technology to integrate roof sheathing, roof cover and solar energy in one single layer. This technology allows them to lower manufacturing and installation costs and create more visually appealing solar energy systems that look like roofing tiles. The company was awarded a $50,000 POCR loan for key personnel and equipment.
Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval.
Enjoy the socialsim, and may your profits soar.