DES MOINES — Economic development projects in Forest City, Waverly and at the University of Northern Iowa will receive nearly $1.74 million in state assistance as part of a broader package expected to generate $57.2 million in private manufacturing investment and 98 new jobs across Iowa.
The Iowa Economic Development Authority Board approved approximately $7.6 million in tax credits and grants Friday, August 21, 2026, supporting two manufacturing expansions, two community recreation projects and three university-led infrastructure initiatives.
Northern and northeastern Iowa projects received:
- $705,000 for a new Bear Creek Golf Course clubhouse in Forest City
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$61,260 in tax credits for Impact CNC’s Waverly manufacturing expansion
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$970,000 for UNI’s Foundry 4.0 Center
Together, those three awards total $1,736,260.
Forest City lands $705,000 for new clubhouse
Friends of Bear Creek and the City of Forest City received a $705,000 Community Attraction and Tourism grant toward construction of a new clubhouse at Bear Creek Golf Course.
The planned 12,000-square-foot, two-level facility will replace the existing clubhouse and feature a full-service restaurant and bar, indoor golf simulators and public gathering space.
Organizers envision a year-round destination capable of hosting golf leagues, tournaments, community gatherings, corporate outings, dining and other events.
The total project is expected to cost $2.35 million, meaning the state grant will cover approximately 30 percent of the projected expense.
The award represents a major step forward for a project that has been gathering local financial support. In June, the Winnebago County Board of Supervisors endorsed the Bear Creek proposal and committed $5,000 in matching funds for the state grant application.
The existing clubhouse has been described by county officials as aging, functionally limited and no longer adequate for residents or visitors.
Waverly expansion tied to 45 jobs
Impact CNC LLC received $61,260 in Business Incentives for Growth tax credits for a $1.7 million expansion of its manufacturing operation in Waverly.
The Indiana-based precision machining company merged in July with Waverly-based GMT LLC.
Impact CNC now plans to install two vertical lathes, leak-testing machinery, assembly equipment, computer hardware and new software. The investment is intended to increase production capacity and support continued growth.
The company expects to create 45 jobs paying a qualifying wage of at least $28.52 per hour.
Although the Waverly project represents only a small portion of the round’s total capital investment, it accounts for nearly half of the 98 manufacturing jobs announced by IEDA.
UNI awarded $970,000 for Foundry 4.0
The University of Northern Iowa received a $970,000 Strategic Infrastructure Program grant for its Foundry 4.0 Center.
UNI will use the money to acquire advanced equipment associated with Industry 4.0 manufacturing, a term generally used to describe production systems incorporating automation, sensors, connected machinery and real-time data.
The center is intended to modernize Iowa foundry operations, provide workforce training and help manufacturers adopt advanced production technology.
State officials also expect the project to strengthen Iowa companies’ ability to participate in defense supply chains and create a statewide technology-transfer platform through which manufacturers can access equipment, expertise and research.
ADM plans massive Clinton investment
Archer Daniels Midland Company received the largest business award in the latest round: $2.23 million in tax credits toward a $55.5 million investment in Clinton.
ADM plans to convert an underused 463,503-square-foot fermentation facility into a precision fermentation operation capable of producing high-value biobased proteins and enzymes.
The project includes new separation, purification, drying and packaging equipment, along with upgrades to fermentation machinery, piping and supporting systems.
ADM expects to create 53 jobs paying a qualifying wage of at least $23.57 per hour.
The Clinton project alone accounts for approximately 97 percent of the $57.2 million in manufacturing capital investment announced Friday.
Larchwood receives $1 million
The City of Larchwood received a $1 million Community Attraction and Tourism grant for a new 18,825-square-foot community center.
The fully accessible building will replace the aging recreation center in the city of fewer than 1,000 residents.
Plans call for a multiuse gymnasium, walking track, fitness and aerobics rooms, kitchen and community room. The facility will accommodate recreation, youth programs, tournaments, craft fairs and regional gatherings.
Larchwood’s location near Minnesota and South Dakota could allow the center to attract visitors and events from all three states.
The project is expected to cost $4.13 million, with the state grant covering approximately 24 percent.
University of Iowa receives $2.64 million
The University of Iowa received two Strategic Infrastructure Program awards totaling more than $2.63 million.
The university was awarded $1,738,190 for its Protostudios 2.0 initiative. The project will expand advanced manufacturing and prototyping resources available to Iowa entrepreneurs, startups, researchers and established manufacturers.
The new equipment and infrastructure are intended to accelerate product development and commercialization while supporting workforce training in advanced manufacturing and medical technology.
A separate $900,000 award will support the university’s Operator Performance Lab Aerospace Economic Growth Initiative.
That project calls for adding a second operational flight-test aircraft, establishing classified research capabilities and constructing secure infrastructure for aerospace and defense work.
State officials hope the investment will attract additional federal research money, train workers and help establish Iowa as a destination for aerospace and defense innovation.
Manufacturing incentives continue
The latest awards continue an active year for Iowa’s Business Incentives for Growth program.
In July, the IEDA Board approved another $4.66 million in economic assistance tied to 312 manufacturing jobs. That round included $623,500 for Northern Iowa projects expected to produce 102 jobs.
In May, Northern Iowa manufacturer Rosenboom Machine & Tool received more than $1.35 million in BIG tax credits for a $19 million Milford expansion expected to create 78 jobs.
The BIG program uses state tax incentives to encourage companies to make capital investments and create qualifying jobs in Iowa.
Community Attraction and Tourism grants support recreational, cultural, educational and entertainment facilities intended to improve quality of life and attract visitors.
The Strategic Infrastructure Program supports shared facilities and equipment designed to give Iowa businesses and industries a competitive advantage when similar resources are not adequately available through existing public or private facilities.