IEDA board approves assistance to 6 companies

Small business incubator receives CAT grant to renovate, expand

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The Iowa Economic Development Authority board approved Nov. 15 assistance for a Dubuque manufacturer, innovation funding for five Iowa startups and a Community Attraction and Tourism (CAT) grant, according to a news release.

Universal Tank & Fabrication Inc. manufactures tanks, vessels and weldments for various industries, including water/wastewater, air, biogas and chemical/energy. The company plans to lease a new 28,000-square-foot facility in Dubuque and will install additional equipment. The project represents a capital investment of nearly $3 million and is expected to create 15 jobs at a qualifying wage of $28.96 per hour. The board awarded the company tax benefits through the High Quality Jobs program.

Ames-based robotics company Invasive Removal is developing tools to combat invasive species in forests and prairies. The company was awarded a $50,000 Proof of Commercial Relevance (POCR) loan for IP development and evaluation, proof of concept work, product refinement and key personnel.

Flete Inc. in Des Moines has created a workflow management tool for businesses operating fleets of commercial vehicles. Flete was awarded a $100,000 Demonstration Fund loan for IP development and evaluation, product refinement, key personnel and equipment, and market planning and entry activities.

Upvote Inc. has developed a program to automate policy discovery, tracking and analysis for government relations professionals. The Des Moines-based startup was awarded a $100,000 Demonstration Fund loan for IP development and evaluation, product refinement, key personnel and administrative operations, and market planning and entry activities.

Renner Ag Solutions in Klemme aims to provide a safer and more efficient solution for the grain storage process. Its flagship product, AgriNet, uses technology to operate a device that can clean out grain bins, removing the risk of farmers entering the grain bin. The company was awarded a $50,000 POCR loan for IP development and evaluation, market analysis, proof of concept work, product refinement, equipment and market planning and entry activities.

GW Nutrition Inc. has developed technology to improve the acceptance of plant- and algae-based proteins. Its patented technology uses a proprietary light delivery system to reduce microbial contamination while also moderating the sensory characteristics, such as color, flavor and odor, of alternative proteins. The Slater-based company was awarded a $100,000 Demonstration Fund loan for equipment and key personnel.

NewBo City Market, a nonprofit small business incubator in Cedar Rapids, received a $500,000 CAT grant to execute its Next Level Local project, which will enhance the nearly 21,000-square-foot existing market and add nearly 9,000 square feet of new construction. Among the updates will be a new second floor, indoor stage, processing kitchen and recording studio. The market expects to see a 20% increase in visitors per year.