Culver announces incentives for expansion
Four advanced manufacturing and technology companies planning expansions in Iowa have been approved for assistance from economic stimulus programs by the Iowa Economic Development Board and the Iowa Department of Economic Development, Gov. Chet Culver announced.
In a release Thursday, Culver’s office said the projects in Ames, Carroll, Council Bluffs and Des Moines will create 135 jobs, retain an additional 24 jobs and include a total capital investment of almost $40 million in the state’s economy.
“As we move into a new year, we will continue to work tirelessly to take advantage of every opportunity to build a stronger economy in Iowa,” Culver said.
ConAgra Foods Packaged Foods LLC, which plans to upgrade its 55-year-old Council Bluffs facility, including the addition of a new product line and the incorporation of line efficiencies, was awarded tax benefits from the Enterprise Zone program to support the creation of three new jobs and retention of 15 jobs.
The capital investment for that project, which is expected to be completed by the end of 2012, is estimated at $38.5 million.
Carroll-based Future Health Inc. was approved by the Iowa Economic Development Board for an award of $144,000 from the Grow Iowa Values Financial Assistance Program (GIVFAP). The funding will support the creation of 48 jobs focused on providing technical assistance and training in support of the electronic health record adoption of qualifying physicians in Iowa and around the nation.
Hiring is expected to begin in February.
The Iowa Economic Development Board also approved an award of $65,000 from GIVFAP for Palisade Systems Inc., which plans to increase its work force to expand into new markets with its software product and solutions. That project, expected to create 23 new jobs and retain three current positions, will also support the continued development and expansion of the company’s body of intellectual property.
In Ames, WebFilings LLC will use a $500,000 Iowa Economic Development Board-approved award from GIVFAP to support the launch of that company’s Web-based application to automate and improve the drafting process of Securities and Exchange Commission filings for public companies. The project will comprise product marketing, direct-sales support and customer support, and support the creation of 61 new jobs and the retention of six positions.
“We have some very innovative people growing new businesses,” Culver said. “When that is combined with the skilled workers and excellent business climate in Iowa, we have everything we need to build a more vibrant economy to move Iowa forward.”