(DES MOINES, IA) – Today (Friday), the Iowa Economic Development Authority (IEDA) Board approved awards for five companies, which will assist in the creation of 266 jobs and result in $202 million in new capital investment for the state. These projects are located in Charles City, Council Bluffs, Creston, Fairfax and Fort Dodge. The board also approved innovation funding in support of two startups located in Coralville and Des Moines.

In this area:

IceCap Cold Storage to increase warehouse/distribution facility in Council Bluffs
IceCap Cold Storage is a subsidiary of US Property, a development group creating mixed use facilities across the country. In late 2021, IceCap began construction on its first facility at the Council Bluffs site. Seeing continued growth in the industry, the company is moving forward with an expansion of the warehouse/distribution facility, additional dock doors and equipment such as racking, freezing and transportation components. The project, representing a nearly $70 million capital investment, is anticipated to create 146 jobs, 96 of which are incented at a qualifying wage of $24.42. The board awarded the company tax benefits through the Targeted Jobs Withholding Tax Credit program.

Benson Hill to add extrusion facility in Creston
Benson Hill is a food technology company with a processing location in Creston that currently converts proprietary soybeans into high-protein soymeal and high-oleic oil, as well as food-grade soy white flake, flour, and grits. Benson Hill acquired the business through the acquisition of ZFS Creston, LLC in December 2021. This project will include a 15,000-square-foot building expansion and the purchase of equipment to create an extrusion facility to foster product innovation and increase manufacturing scale. The resulting high-protein soy ingredients will be marketed industry-leading consumer packaged goods companies. In addition to food applications, Benson Hill also serves the domestic and Northern European aquaculture markets. The project represents a $28 million capital investment and is expected to create 11 jobs, nine of which are incented at a qualifying wage of $19.83 per hour. The board awarded the company tax benefits through the HQJ program.

Read about the other awards, HERE.