The problem: Iowans and other Americans eat a lot of salmon. The fish generally have to be frozen and flown halfway across the country. That increases expense, and can make the product less fresh.

The innovation: Inland Sea-Harlan LLC is looking for investors interested in establishing a production plant in Harlan (yes, Iowa), where salmon would be raised in tanks. 

How they did it: The idea grew from discussions that Kevin Kimle, who runs an ag incubator operation at Iowa State University, had with his son, Jackson Kimle, co-founder and vice president for business development and Danish entrepreneurs. Jackson graduated from ISU this year in agribusiness. The company is still in development, but the goal is to raise 5.3 million pounds of live salmon a year under a two-acre roof using two units developed with an existing Danish technology. The site was selected in part because the company could pull enough water from wells, without having problems with chlorine and other chemicals that could harm the fish. The hope is to finish fundraising for a $27.6 million production facility and begin construction this year. The first harvest would be in 2018.  

The payoff: If Inland Sea is successful, Iowa restaurants and wholesalers will have a close-to-home source of Atlantic salmon, one of the most popular products in premium seafood. The facility would be the first of its kind producing this type of salmon at these volumes in Iowa, Jackson Kimle said. The company would employ 20, with annual revenue of $16 million to $20 million. Earnings before interest, taxes and depreciation are expected to be $4 million to $7 million.