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04/16/2009
ECONOMIC AWARD TO BODEANS
GOVERNOR CULVER ANNOUNCES ECONOMIC DEVELOPMENT AWARDS TO SUPPORT JOB GROWTH
State, Entrepreneurs Working Together to Strengthen Iowa’s Economy
DES MOINES – Governor Chet Culver today announced awards from Iowa Department of Economic Development for entrepreneurial expansions in Le Mars, Adel, and Elkader and modernization of a wind energy plant in West Branch. Other requests approved today support training and networking to develop the skills of the Iowa workforce.
New hiring in Le Mars
Started by an entrepreneurial couple in Le Mars, BoDeans is a state of the art manufacturer of sugar cones and wafers used by dairy companies to produce packaged ice cream treats. The company is considering the investment of $5.6 million to add a second wafer production line. The project was awarded $95,000 from the Physical Infrastructure Assistance Program (PIAP) to create 37 jobs and tax benefits from the High Quality Jobs Creation (HQJC) program for 5 of those jobs. The project will build a duplicate of the present wafer line, reducing the risk of dependency on one line, and expanding production capacity by January 2010.
Technology success in Adel
Submittal Exchange LLC of Adel has a proven computer system that allows architects, engineers, and contractors to electronically review construction submittals online. The company wants to hire 6 additional sales and support staff to launch a national sales campaign and provide support for the next level of growth. To assist the expansion, the Economic Development Board today awarded $125,000 from the Entrepreneurial Ventures Assistance (EVA) program, which will be repaid by a royalty agreement on future sales. Submittal Exchange has established a customer base in the upper Midwest, including Iowa.
Manufacturing takes shape in Elkader
A new manufacturing facility will be built over the next year to house Mobile Track Solutions, a start-up company in Elkader that is ready to manufacture new products for the construction and agricultural industries. The first product is a pull unit for towed scrapers. Tax benefits were approved for the creation of 20 new jobs and the more than $6 million investment in an Enterprise Zone.
West Branch modernization
Acciona Energy North America continues to modernize the West Branch plant, adding 30,000 sq. ft. of additional space for final assembly of wind turbine nacelles. The nacelle is the structure that houses all of the electric generating components on top of a wind turbine tower. Tax benefits from the High Quality Jobs Creation (HQJC) program were approved for the nearly $11 million modernization. Acciona North America is a wholly-owned subsidiary of Acciona Energia headquartered in Pamplona, Spain, the largest developer and constructor of wind parks for electric generation in the world.
(SOURCE: GOVERNOR'S WEBSITE)
© 2002 KLEM.
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