Metro tech companies receive state incentives for expansions
The Iowa Economic Development Authority today approved a $100,000 grant plus tax incentives for West Des Moines-based Businessolver Inc.’s expansion at 1025 Ashworth Road. Businessolver expects to create 40 jobs at a qualifying hourly rate of $26.72 as the result of a $4.4 million project. The company is seeking an estimated $220,000 in tax credits. Businesssolver was created in 1998 and provides benefits administration software. Missouri-based Jack Henry & Associates Inc. will receive a $200,000 grant and tax benefits for a project that includes relocating its local office within Des Moines, remodeling offices in Des Moines and Cedar Rapids and purchasing equipment. Tax incentives have been estimated at slightly more than $309,000. The company plans to spend $280,000 on computer hardware, $230,000 on software, $185,000 on building improvements and $16 million on research and development. The company expects to create 50 jobs at the $26.72-an-hour rate. The company provides payment processing and other services to the financial services industry.