The Iowa Economic Development Authority board today approved financial incentive awards for three companies, which the state agency said will assist in the creation of 56 jobs and bring more than $76 million in new capital investment to Iowa. The projects are located in Ames, Peosta and Underwood. The board also approved innovation funding in support of five startups located in Coralville, Des Moines, Riverside, Waukee and Wayland.

The awards of tax benefits were made through the state’s High Quality Jobs program, which provides qualifying businesses assistance to offset some of the costs incurred to locate, expand or modernize an Iowa facility. The benefits can include loans, forgivable loans, tax credits, exemptions and/or refunds. The IEDA did not provide details on the specific benefits or dollar values provided for the following projects that received awards:

• Berdex USA, a Dutch manufacturer of livestock trailers, plans to locate its U.S. headquarters at an existing facility in Ames, where it will make three types of livestock trailers for swine and cattle producers. The project represents a capital investment of just over $1 million and is expected to create 20 jobs at a qualifying wage of $28.87 per hour.
• Camso Manufacturing USA, a subsidiary of Michelin North America, plans to rework its Peosta facility through a $20 million capital investment. The project is expected to create 33 jobs, of which 17 will have a qualifying wage of $21.13 per hour.
  
• Link Snacks Inc. plans to expand its national distribution hub in Underwood, a project that will approximately double its current capacity. The company also plans to purchase an automated storage and retrieval system. A capital investment of just over $55 million, the project is expected to create three jobs at a qualifying wage of $22.94 per hour.
  

The five startups that received funding are:

• FBB Biomed, doing business in Coralville. It is a biotech company with a mission to expand the reimbursable diagnostics market to brain diseases. The company was awarded a $125,000 Demonstration Fund loan for additional testing and hiring of key personnel.
• Harvest Increase Agriculture in Riverside, which develops a series of fertilizer additives, called SUPRGrow, to increase corn yields. The company was awarded a $25,000 Proof of Commercial Relevance loan for product refinement.
  
• Dhakai in Des Moines, a clothing sourcing technology company. It developed a product that connects small to midsize fashion brands and retailers directly with apparel manufacturers. The company was awarded a $100,000 Demonstration Fund loan for product refinement, market planning and entry activities, key personnel, and equipment.
  
• Bristola, based in Waukee. It is a renewable energy technology services company that specializes in anaerobic digester technology for the cleaning and inspection of tanks and covered lagoons. The company was awarded a $25,000 Proof of Commercial Relevance loan for product refinement.
  
• ChopLocal, based in Wayland. It provides an alternative meat supply chain through an online marketplace that connects consumers to butcher shops, meat processors and farmers. The company was awarded a $25,000 Proof of Commercial Relevance loan for intellectual property development and evaluation and market analysis.