BOARD ACTION: IEDA Board approves projects from two established and two startup companies in Iowa
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Ms. Kanan Kappelman
IEDA Board approves projects from two established and two startup companies in Iowa
January 22, 2021 (DES MOINES, IA) – Today, the Iowa Economic Development Authority (IEDA) Board approved awards for two established companies, which will assist in the creation of 134 jobs and result in over $10 million in new capital investment for the state. These projects are located in Burlington and Sioux Center. The board also approved innovation funding in support of two startups located in Ankeny and Fairfield.
Integra Pool Covers to purchase facility in Burlington
Integra Pools Covers is one of the family of brands offered by Xplore, a global company and leading manufacturer and distributor of composite fiberglass swimming pools, pool equipment and pool covers operating under brands such as Leisure Pool, Imagine Pools and Aviva Pools. Integra Pool Covers is planning to purchase an existing manufacturing facility in Burlington to undertake manufacturing of automatic pool covers, replacement pool covers and vinyl liners. The project represents a capital investment of $4.1 million and is expected to create 80 jobs, of which 40 are incented at a qualifying wage of $21.61. The board awarded the project tax benefits through the Targeted Jobs Withholding program.
Link Manufacturing to expand in Sioux Center
Link Manufacturing develops vehicle suspension systems to address the unique needs of OEMs and fleet owners and operators. They offer collaborative engineering support for heavy-duty cab, chassis and auxiliary suspensions. They also offer specialty products, such as ramps. The company plans to expand the existing manufacturing facility by 50,000 square feet, add equipment, construct a conference center and expand the office area to support the increase in production workforce. The board awarded this $6 million capital investment project tax benefits through the High Quality Jobs program. It is expected to create 54 jobs, of which 14 are incented at a qualifying wage of $22.32.
Awards made to two startups
Vine Chromatic, based in Ankeny, is a talent booking agency working to connect artists and venues. The company plans to create a web application for performers, venues and owners to easily track schedules, streamline marketing and connect with each other. The application will provide a more organized system to the current outdated processes. The company was awarded a $25,000 Proof of Commercial Relevance (POCR) loan for IP development and evaluation, market planning/entry activities and key personnel.
Spanton Dynamics out of Fairfield developed the Spanton Board, a power-driven spine board and innovative piece of medical technology. Prompted by a desire to effectively safeguard athletes following a head, spine or other serious injury, the Spanton Board has the potential for broad adoption in other areas of first responder and daily medical applications. The patent-pending technology enables the transfer of injured individuals to a backboard without substantial movement of the head and neck, which reduces the likelihood of the potential for a secondary injury. The Spanton Board has been documented through multiple research trials to be a far more effective piece of equipment in the loading and securing of an injured person. The company was awarded a $25,000 POCR loan for product refinement, market planning/entry activities and construction costs.
Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval.
Download a spreadsheet with today's awards.