Companies land state assistance
The Iowa Department of Economic Development (IDED) board on Thursday approved assistance for several companies, including two Eastern Iowa businesses that are expanding and say they’ll create jobs, according to the Cedar Rapids Gazette.
The board awarded $100,000 in direct financial assistance through the state’s Grow Iowa Values Fund to Raining Rose Inc. in Cedar Rapids.
Raining Rose, a manufacturer of natural body-care products, expects to create 54 jobs, 15 of which are supported by state incentives, and the project represents a $10.4 million capital investment. The company plans to demolish existing buildings and construct a new 122,000-square-foot manufacturing facility.
The IDED board also awarded a $250,000 royalty agreement and tax incentives to Zero Energy Systems to construct a 46,000-square-foot manufacturing facility in the Wescor development in Coralville. The plant, the first of its kind in the nation, will produce the company’s proprietary concrete wall system.
The project is expected to create 25 jobs supported by state incentives and represents a $7.5 million capital investment.