The Iowa Economic Development Authority (IEDA) board today (Friday) awarded direct financial assistance and tax benefits to two companies for job creation and expansion projects. The awards will assist in the creation of 199 jobs and will result in over $24 million in new capital investment for the state. The board also approved innovation funding for six startups.

The board approved assistance for planned or proposed projects located in Ankeny, Coralville, Denison, Des Moines, Independence, Johnston and Urbandale.

In Denison, Quality Food Processors (QFP), which produces bacon and cooked meats by processing on contract for 10 customers, was awarded $1-million in direct financial assistance through the Economic Development Set-Aside (EDSA) program. This $21.7 million capital investment is expected to create 195 jobs at a qualifying wage of $12.70 per hour.