Three Metro companies get state loans, tax breaks
Friday, March 22, 2013 2:46 PM
Three Greater Des Moines companies were among 14 Iowa firms that were awarded tax benefits and money Friday by the Iowa Economic Development Authority Board.
The board approved packages to 14 companies on the assumption that they will create 271 new jobs, retain 13 jobs and will result in more than $85 million in new capital investment in Iowa.
The Des Moines area companies include:
- C&L Companies of Urbandale was awarded tax breaks on a its plan to build a new $1.8 million Indianola office and distribution center. The company, which supplies after-market engine replacement parts for dirt bikes and ATVs, expects to create eight jobs, two of which are tied to incentives and must pay at least $18.26 an hour.
- Energy Stewards Internation of Clive was awarded a $75,000 loan through the Iowa Demonstration Fund to advance its software capabilities. The company already develops energy accountability software for energy efficiency programs for MidAmerican Energy and other utility companies. The loan will help the company market its software outside of Iowa utilities.
- StrataBolt, Inc. was given at $100,000 loan through the Iowa Innovation Acceleration Fund for prototype design and product refinement. The Johnston company's product enables LED light fixtures to be connected to an Ethernet cable so the light fixture can be monitored and controlled using mobile and web apps.