Manufacturing expansions led by Arconic and Vermeer highlight statewide growth across multiple Iowa communities
DES MOINES, Iowa — The Iowa Economic Development Authority (IEDA) Board has approved incentives for five business expansion and attraction projects expected to create 536 new jobs and generate $268.2 million in capital investment across the state.
The projects, located in Bettendorf, Bondurant, Hiawatha, Vinton and Waverly, represent the first awards issued through Iowa’s newly launched Business Incentives for Growth (BIG) program, a statewide initiative designed to support capital investment and high-quality job creation through performance-based tax benefits.
In addition to the business awards, the board approved community development projects through the Community Attraction and Tourism (CAT) program and innovation funding for a clean-technology startup through Iowa’s State Small Business Credit Initiative (SSBCI).
Manufacturing Investments Drive Statewide Growth
Arconic to Expand Aluminum Production in Bettendorf
Arconic Corp., a Pittsburgh-based manufacturer of advanced aluminum products serving aerospace, automotive and defense markets, will construct a new aluminum casting complex at its Davenport Works facility in the Riverdale/Bettendorf area.
The $131 million investment will expand aluminum processing and recycling capacity, enabling the production of ingots used in sheet and plate manufacturing while improving operational safety and efficiency through new equipment installations.
The project is expected to create 40 jobs with qualifying wages averaging $28.46 per hour. IEDA awarded $6.55 million in BIG program tax credits to support the expansion.
Vermeer to Build New Production Facility in Bondurant
Vermeer Corp., a Pella-based global manufacturer of agricultural and industrial equipment, will develop a 300,000-square-foot production facility in Bondurant to meet growing customer demand.
The project includes manufacturing space, office operations, parking and logistics infrastructure and represents a $102.7 million capital investment.
The expansion is expected to create 182 jobs, including 62 incentive-eligible positions with qualifying wages averaging $35.11 per hour. The IEDA Board approved $5.1 million in BIG tax credits for the project.
CCB Packaging Expands Operations in Hiawatha
CCB Packaging, which provides packaging solutions for food and pharmaceutical companies, will add a 65,000-square-foot facility expansion and install an automated production line to modernize operations.
The $13.3 million investment will create nine new jobs, including six incented positions with wages averaging $30.41 per hour. The company received $343,497 in BIG program tax credits.
Sewer Equipment Company Establishes Fabrication Operations in Vinton
Sewer Equipment Company of America, a manufacturer of sewer cleaning and vacuum equipment, will consolidate fabrication operations in Iowa by purchasing an existing facility in Vinton.
The $3 million project will create 30 jobs, including 22 incentive-eligible positions with wages averaging $24.18 per hour. The board approved $84,375 in BIG tax credits.
Revolution Concrete Mixers Launches Manufacturing in Waverly
Revolution Concrete Mixers, operating under LMI US, LLC and headquartered in Minnesota, will establish new manufacturing and assembly operations in Waverly.
The company will invest $18.2 million, including approximately $8 million in equipment, to produce digitally enabled rear-discharge concrete mixers.
The project is expected to create 275 jobs, including 25 incentive-eligible positions with wages averaging $28.52 per hour. IEDA awarded $660,000 in BIG tax credits.
Community Projects Strengthen Quality of Life
Through the Community Attraction and Tourism (CAT) program, three Iowa communities received funding to support recreational and community infrastructure projects designed to enhance livability and attract residents and visitors.
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Farley received $197,000 to renovate a building into a new library and community center adjacent to Westside Park, supporting remote workers and local entrepreneurs. Total project cost: $863,708.
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Inwood was awarded $1 million to construct a 19,000-square-foot community center featuring a gymnasium, fitness center, meeting space, commercial kitchen and public library. Total project cost: $5.79 million.
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Lohrville received $53,000 to build the first spray pad in Calhoun County at Lohrville City Park, expanding recreational opportunities and regional amenities. Total project cost: $178,897.
The CAT program provides financial assistance for recreational, cultural, educational and entertainment facilities that enhance community quality of life across Iowa.
Innovation Funding Supports Clean-Tech Startup
Separately, Gross-Wen Technologies, Inc., a Slater-based clean-technology company, received a $1 million Innovation Acceleration Expansion Fund loan through Iowa’s SSBCI Innovation Fund.
The company develops patented algae-based wastewater treatment systems under its RAB™ platform, which sustainably removes nitrogen and phosphorus while enabling the production of algae-derived products such as fertilizers, bioplastics and biofuels. Funding will support hiring and market expansion efforts.
Strengthening Iowa’s Competitive Position
The BIG program, launched in early 2026, is designed to help Iowa compete for major business investments by incentivizing projects that deliver long-term economic impact through job creation, capital investment and innovation.
Together, the approved projects highlight Iowa’s continued momentum in advanced manufacturing, infrastructure investment and community development initiatives aimed at supporting both economic growth and quality of life statewide.
Download a spreadsheet with today’s BIG awards.
For more information contact:
Ms. Kanan Kappelman
515.348.6248
communications@iowaeda.com
