IEDA approves assistance expected to create more than 300 manufacturing jobs while supporting emerging technology companies and downtown revitalization
DES MOINES, Iowa (July 20, 2026) — The Iowa Economic Development Authority (IEDA) Board has approved a new round of economic development incentives supporting four manufacturing expansion projects, three technology startups, three innovation fund recipients and a major community redevelopment initiative.
Collectively, the manufacturing projects will create 312 new jobs, generate $62.9 million in capital investment, and strengthen Iowa’s advanced manufacturing, food processing and industrial supply chain sectors.
The board also approved commercialization funding for emerging technology companies in artificial intelligence, agriculture technology and medical devices, while additional State Small Business Credit Initiative (SSBCI) funding will accelerate three high-growth startups. In Cedar Rapids, a Community Attraction and Tourism (CAT) grant will help transform a long-vacant building into a new senior recreation center.
Manufacturing Projects Drive $62.9 Million in New Investment
Electrical Power Products Expands Des Moines Manufacturing Campus
Electrical Power Products (EP²), a Flex company specializing in engineered electrical power control and protection systems, will invest $42 million to expand its Des Moines manufacturing campus by approximately 420,000 square feet.
The project will significantly increase fabrication, assembly and wiring capacity to meet growing demand from utility, power infrastructure and data center customers.
Project Highlights
- Investment: $42 million
- Location: Des Moines
- Jobs Created: 200
- Incented Positions: 150
- Qualifying Wage: $31.54/hour
- IEDA Assistance: $2.01 million in Business Incentives for Growth (BIG) tax credits
Geater Machining Expands Aerospace and Precision Manufacturing Operations
Independence-based Geater Machining and Manufacturing Co. will construct a 30,000-square-foot expansion to increase production capacity by approximately 33% to 40%.
The project includes additional manufacturing space, upgraded offices and new production equipment to support continued growth across aerospace, defense, communications and technology markets.
Project Highlights
- Investment: $16 million
- Location: Independence
- Jobs Created: 100
- Incented Positions: 20
- Qualifying Wage: $24.93/hour
- IEDA Assistance: $584,500 in BIG tax credits
S&J Tube Advances Steel Manufacturing in Wapello
S&J Tube will strengthen its manufacturing operations through investments in advanced roll-forming technology, additive manufacturing (3D printing), CNC equipment and in-house tooling production.
The expansion enhances the company’s ability to manufacture precision steel components while improving production efficiency.
Project Highlights
- Investment: $2.4 million
- Location: Wapello
- Jobs Created: 10
- Qualifying Wage: $24.65/hour
- IEDA Assistance: $177,000 in BIG tax credits
Webster City Custom Meats Modernizes Processing Facility
Webster City Custom Meats will install a new automated bacon packaging system designed to improve productivity, packaging efficiency and long-term competitiveness.
The company was acquired by Midwest Quality Wholesale in 2023.
Project Highlights
- Investment: $2.5 million
- Location: Webster City
- Jobs Created: 2
- Qualifying Wage: $25.12/hour
- IEDA Assistance: $39,000 in BIG tax credits
Iowa Invests in Next-Generation Technology Startups
IEDA also approved commercialization funding for three emerging Iowa companies developing technologies in artificial intelligence, agriculture and medical innovation.
Ama AI (Ames)
Formerly Narrate AR, Ama AI is developing a personalized artificial intelligence platform designed to support children with autism and other cognitive differences across home, school and therapy settings.
The company received a $100,000 Demonstration Fund loan to advance commercialization, expand platform capabilities and strengthen security, compliance and provider integrations.
SoilSerdem (Ames)
SoilSerdem is developing geospatial software that helps agronomists analyze soil, yield and field data more efficiently to improve precision agriculture decision-making.
The company received a $100,000 Demonstration Fund loan to support product refinement, market expansion, strategic partnerships and commercialization.
Juggernaut Life Sciences (Coralville)
A University of Iowa spin-off, Juggernaut Life Sciences is developing a minimally invasive laser-based platform for treating early-stage cancers with greater precision while minimizing damage to healthy tissue.
The company received a $50,000 Proof of Commercial Relevance loan to advance intellectual property, proof-of-concept work and product development.
SSBCI Innovation Fund Supports High-Growth Companies
Additional funding through Iowa’s State Small Business Credit Initiative (SSBCI) Innovation Acceleration Fund was awarded to three companies focused on biotechnology, food technology and artificial intelligence.
Skroot Laboratory (Ames)
Skroot develops SMART sensor technology that enables biomanufacturing companies to monitor cell growth inside sealed bioreactors without disrupting sterile production.
Award: $250,000 Innovation Acceleration Launch Fund loan.
AVEX (Cedar Rapids)
AVEX developed Repour, a patented wine preservation system that removes oxygen from opened bottles, extending freshness while reducing waste for consumers and hospitality businesses.
Award: $250,000 Innovation Acceleration Launch Fund loan.
SwineTech (Cedar Rapids)
SwineTech’s PigFlow® artificial intelligence platform helps pork producers improve workforce efficiency, animal care and operational performance through real-time management tools.
Award: $500,000 Innovation Acceleration Propel Fund loan.
Cedar Rapids Receives CAT Grant for Senior Recreation Center
The nonprofit organization Horizons received a $600,000 Community Attraction and Tourism (CAT) grant to renovate an existing downtown Cedar Rapids building into the Our Place Senior Recreation Center.
The 22,659-square-foot facility will feature:
- Activity and meeting rooms
- Fitness and exercise areas
- Library
- Café
- Movie room
- Indoor pickleball court
The $3.5 million project restores a dedicated senior recreation center to Cedar Rapids for the first time since the devastating 2008 flood while supporting continued downtown revitalization and community engagement.
Investment Snapshot
Manufacturing Projects
- Companies: 4
- Capital Investment: $62.9 million
- New Jobs: 312
Innovation Programs
- Three Demonstration Fund awards
- Three SSBCI Innovation Fund awards
Community Development
- $600,000 CAT grant
- $3.5 million senior recreation center project in Cedar Rapids
The approvals underscore Iowa’s continued strategy of supporting advanced manufacturing expansion, commercializing homegrown innovation and investing in quality-of-life projects that strengthen communities while fostering long-term economic growth.
