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Source Allies receives forgivable loan, tax incentives for expansion in Urbandale

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Source Allies Inc. in Urbandale will receive a $144,000 forgivable loan from the state of Iowa for an expansion project. In addition, the Iowa Economic Development Authority board approved tax incentives worth an estimated $244,250. The company, which creates software for customers in energy, precision agriculture, media, healthy care and insurance markets, plans a $4.5 million project that will result in the creation of 36 jobs at an hourly wage of at least $29.12, according to a release from IEDA. The company also will receive an estimated $144,605 rebate from tax increment finance revenues from the city of Urbandale.