Kemin Industries Inc. has been awarded $1 million from the Grow Iowa Values Fund for its planned expansion in Des Moines, Gov. Chet Culver announced early this afternoon.

The award to Kemin was one of eight made by the Iowa Department of Economic Development’s board this morning. The largest award, $5 million, will be used to build a new cellulosic ethanol plant in Nevada. In total, the companies have pledged to create or retain 300 jobs in Iowa. The board also approved $450,000 in direct assistance from the Values Fund to Marsh Inc. for an expansion that will add 150 new employees in Newton.

 “Today’s news is more evidence that Iowa’s economy has turned the corner for the better,” Culver said in a press release. “The Iowa Department of Economic Development continues to play a crucial role in facilitating the necessary collaboration between private industry and state, regional and local resources for continued job creation and business growth in Iowa.”

The Iowa Department of Economic Development made the following awards on Thursday:

Kemin Industries

The board awarded $1 million in direct financial assistance through the Grow Iowa Values Fund Financial Assistance Program (GIVFAP) to Kemin Industries for an expansion of its Des Moines operations. The company plans a $29.6 million capital investment that includes a new worldwide headquarters office, six manufacturing buildings, research and development buildings, and greenhouses. Kemin expects to create 98 jobs, of which 58 are supported by state incentives. The board also awarded tax benefits through the Enterprise Zone program.

DuPont Danisco Cellulosic Ethanol LLC

The board awarded $5 million in direct financial assistance from the value added agriculture component of the GIVFAP to DuPont Danisco Cellulosic Ethanol LLC for a proposed cellulosic ethanol biorefinery in Nevada. The award would support the creation of 65 jobs and the retention of two jobs. Initially, the facility is expected to produce 25 to 50 million gallons of cellulosic ethanol each year. The company was formed in 2008 as a joint venture of E.I. du Pont de Nemours & Co. and Danisco’s Genencor division. The board on Thursday also approved tax incentives through the High Quality Jobs Program.

 Marsh Inc.

The board approved $450,000 in direct assistance through GIVFAP to Marsh Inc. for an expansion that adds 150 new employees in Newton. The company is the world’s largest insurance broker and risk adviser, serving clients in more than 100 countries. A subsidiary, Marsh U.S. Consumer, has Iowa facilities in Urbandale, Des Moines and Newton with approximately 1,200 employees. The project represents a $1.3 million capital investment.

Genencor

The board awarded $500,000 in direct financial assistance from GIVFAP, to Genencor, a division of Danisco A/S, to expand its Cedar Rapids operations. The company plans a $37.9 million capital investment that includes two building additions, and adding and updating machinery, equipment and infrastructure to increase production capacity for new product demand. Plans also include bringing on line the latest technology platforms to boost the competitive position of the Cedar Rapids plant. The project is expected to create 13 new jobs and support 25 current positions. The board also approved enterprise zone tax incentives for the project.

Fastek International Ltd.

The board awarded a $250,000 royalty agreement, from the entrepreneurial component of the GIVFAP, to software developer Fastek International Ltd. for its Electrical Power Management System. This $100,000 capital investment will support the creation of 11 new jobs. The company has identified a business opportunity in the U.S. military and security forces’ need for an “on-board universal power source” on government vehicles. Those power sources are used to power aircraft, helicopters and data and command centers in the field. Currently, a cart is rolled behind a utility vehicle to support the need for power. Fastek’s power management system can deliver twice the power of the current power system, reduce the weight requirement and eliminate the need for trailers.

General Environmental Cos.

The board approved $150,000 in direct financial assistance through GIVFAP to General Environmental Cos. to open a facility in Oskaloosa that processes cracked eggshells. The award will support the creation of 11 new jobs. Plans call for the company to lease a building and obtain a single-pass cyclone turbine technology system to process the eggshells. Membrane obtained from the process can be used for cosmetic creams and vitamin products. Calcium carbonate powder from the eggshells is sold for many industrial, health and environmental uses. The award comes from GIVFAP’s Value-Added Agriculture Component. The board also awarded tax benefits through the Enterprise Zone program to support this $1.2 million capital investment.

Maharishi Ayurveda Products International Inc.

The board approved $50,000 in direct financial assistance through GIVFAP to Maharishi Ayurveda Products International Inc. to relocate its Colorado warehouse, distribution and management operations to Fairfield. A total of 19 jobs will be created or retained, nine of which will be supported by this award. The project includes retrofitting an existing building and represents a $1.5 million capital investment. The research, manufacturing and global distribution company specializes in ayurvedic herbal supplements, tea, gourmet food items, therapeutic aroma oils, personal care products and organic clothing. The board also approved Enterprise Zone tax benefits for the project.

PathoVacs Inc.

PathoVacs Inc., a start-up technology firm located in Ames, was approved for $75,000 of support from the Iowa Demonstration Fund. PathoVacs is based on a vaccine development technology referred known as PELS (Proteomics-based Expression Library Screening). PELS reduces the cost and timeframe of antigen discovery – the crucial and first major component of vaccine development. This Demonstration Fund award will assist the company in advancing the experimental vaccine through clinical trials, manufacturing and distribution.