DES MOINES, Iowa — March 20, 2026 — The Iowa Economic Development Authority (IEDA) Board has approved a new round of economic development assistance supporting manufacturing expansion, startup innovation, quality-of-life investments and reinvestment district growth across the state. The actions are expected to generate new capital investment, strengthen regional competitiveness and advance Iowa’s strategy for workforce and community development.
IEDA approved assistance for two manufacturing projects in Adel and Waverly that will support the creation of 26 new jobs and $5.38 million in capital investment. The board also approved commercialization funding for three technology startups, awarded Community Attraction and Tourism (CAT) grants for projects in Spencer and Webster City, and authorized amended reinvestment district plans in Des Moines and Fort Dodge.
Manufacturing Projects Expand Production Capacity
- Refreshments Manufacturers of Iowa, a startup focused on ready-to-drink canned cocktails and premium non-alcoholic beverages, plans to establish a new production facility in Adel. The company will invest $3.82 million to construct a 10,000-square-foot manufacturing operation on a 4.57-acre site. The project is expected to create eight jobs, including three incented positions with qualifying wages of $35.54 per hour. The board approved $121,162 in tax credits through the Business Incentives for Growth (BIG) program.
- United Equipment Accessories Inc., a family-owned manufacturer founded in 1952, will expand operations in Waverly by acquiring a 33,400-square-foot industrial facility. The company will invest $1.56 million in building improvements, equipment relocation, new production technology and assembly automation. The expansion is expected to create 18 new jobs, including four incented positions at $28.52 per hour. The project received $32,310 in BIG program tax credits.
Startup Investments Advance Innovation Ecosystem
IEDA also approved commercialization support for three technology-focused startups through the Proof of Commercial Relevance (POCR) program, reinforcing Iowa’s growing innovation pipeline.
- CodeValid, LLC (Ames) received a $50,000 loan to advance an AI-based platform that automates functional testing for complex software systems, improving development efficiency and reducing manual testing requirements.
- SureHost, LLC (Des Moines) was awarded $50,000 to support technology that helps short-term rental operators standardize property readiness and operational visibility.
- Blueprint, LLC (West Des Moines) secured $50,000 to advance healthcare collaboration software that improves coordination among caregivers, patients and care navigators.
Award recommendations for POCR funding are made by the Technology Commercialization Committee and approved by the IEDA Board.
Quality-of-Life Projects Receive CAT Grants
Two community development projects were awarded funding through Iowa’s Community Attraction and Tourism (CAT) program, which supports recreational and cultural infrastructure that enhances local economic vitality.
- The City of Spencer received $224,000 to construct a new splash pad and pedestrian improvements at Riverview Park. The $1.12 million project is expected to boost park utilization and support nearby retail and service businesses.
- Local Initiative for Transformation (LIFT WC) in Webster City was awarded $104,926 to complete the upper-level ballroom of the historic Elks building. The project represents the final phase of a $3 million downtown revitalization effort and will support events, hospitality and community programming.
Reinvestment District Expansions Support Urban Development
IEDA also approved amended reinvestment district plans in Des Moines and Fort Dodge, following recent legislative changes that expanded allowable district acreage.
The Capital City Reinvestment District in Des Moines will receive an additional $9.5 million in benefits, increasing total support to $33 million. The expansion includes approximately 50 additional acres in the Market District and supports $289.2 million in mixed-use development spanning retail, office, hospitality and residential projects.
In Fort Dodge, the Corridor Plaza Reinvestment District will receive an additional $3.5 million, bringing total benefits to $20.5 million. The expansion supports $41.3 million in downtown redevelopment, including building rehabilitation, housing, public infrastructure improvements and riverfront hospitality investments.
The Iowa Reinvestment District Program is designed to catalyze transformative projects that enhance quality of life, drive private investment and strengthen regional economic competitiveness. The program allows communities to reinvest new state hotel/motel and sales tax revenues generated within approved districts.
Download a spreadsheet with today’s BIG awards.
