The Iowa Economic Development Authority Board awarded $1.5 million in direct financial assistance at its Nov. 17 meeting to a newly formed Independence-based food products manufacturer.

According to an investment summary and news release from IEDA, Independence Foods’ plan to purchase and retrofit an existing pet food facility in Independence will be a $14.75 million capital investment and is expected to create 229 jobs at $25.90 per hour. That wage level qualifies the company for state assistance.

The board also approved a total $350,000 in financing on Nov. 17 to three startup companies including a $250,000 Innovation Acceleration Launch Fund loan through the State Small Business Credit Initiative (SSBCI) to a Des Moines-based brand-awareness startup:

• Cedar Rapids-based startup FES Solutions, which develops a “market-ready” fire extinguisher stand for construction companies, was awarded a $50,000 Proof of Commercial Relevance (POCR) loan for intellectual property development and evaluation, market analysis, proof of concept work, and market planning and entry activities. According to the IEDA release, the company’s prototype “has the potential to offer a more durable and lighter weight solution.”

• Ten5 Inc. was awarded a $50,000 POCR loan for its trucking industry communications platform that is intended to improve driver safety and fleet productivity and lower driver and dispatch turnover rates. The IEDA release says the Des Moines-based startup uses a driver voice application that allows the driver “to communicate hands-free using voice input only. It also allows dispatchers and managers to prioritize driver messaging, which is meant to reduce the number of driving delays and distractions.”

• Hummingbirds, a Des Moines-based startup, received the $250,000 SSBCI award from IEDA for its SaaS-enabled marketplace that “helps brands find and work with local people to drive awareness and sales.” According to the release, “customers can create a campaign inside the software, and their content creators (called “hummingbirds”) express interest in the campaign.” The state loan will assist the company in hiring key personnel.