Foundry Coworking has announced it will shut down. Foundry, started by Alexander Grgurich in 2009, was designed to provide a workspace for entrepreneurs, start-ups and mobile professionals, and tried to differentiate itself by providing low-cost membership and a community environment.

Grgurich said that Foundry decided not to compete with other business suites that have recently come to the area, such as Space2Work and Regus.

He also credited StartupCity Des Moines for helping the entrepreneurial ecosystem grow. "That's part of the evolution," Grgurich said. "I'm just happy to have been early on in that evolution and to have helped with that."

All companies based out of Foundry have found other spaces to work out of, he said. For a related story about co-working and incubator spaces in Iowa, click here.