IEDA Board approves tax incentives for four manufacturers, six startups and a quality-of-life project

July 17, 2026 (DES MOINES, IA) - Today, the Iowa Economic Development Authority (IEDA) Board approved tax credits for four manufacturing companies, which will assist in the creation of 312 jobs and result in $62.9 million in new capital investment for the state. These projects are located in Des Moines, Independence, Wapello and Webster City. The board also approved assistance for three startups in Ames and Coralville, along with a quality-of-life project in Cedar Rapids.

In addition, IEDA recently approved assistance from Iowa's State Small Business Credit Initiative (SSBCI) Innovation Acceleration Fund for startups in Ames and Cedar Rapids.

Electrical Power Products, a Flex company, to expand Des Moines manufacturing campus
Electrical Power Products (EP²), a Flex company, manufactures engineered-to-order electrical power control and protection systems for utility, power infrastructure and data center customers. To support growing customer demand, the company plans to expand its existing Des Moines campus by approximately 420,000 square feet. The expansion will increase fabrication, assembly and wiring capacity, strengthening its Iowa manufacturing operations and supporting future growth. The $42 million capital investment is expected to create 200 jobs, with 150 incented positions at a qualifying wage of $31.54 per hour. The board awarded $2.01 million in tax credits through the Business Incentives for Growth (BIG) program

Geater Machining and Manufacturing Co. to grow in Independence
Established in 1962, Geater Machining and Manufacturing Co. provides machining and fabrication services for industries including aerospace and defense, communications, electronics and technology. The company plans a 30,000-square-foot expansion of its Independence facility to increase production capacity by approximately 33% to 40%. The project includes additional manufacturing space, a new visitor entrance with office space and new manufacturing equipment. The $16 million capital investment is expected to create 100 jobs, with 20 incented at a qualifying wage of $24.93 per hour. The board awarded $584,500 in tax credits through the BIG program.

S&J Tube to strengthen manufacturing capabilities in Wapello  
S&J Tube in Wapello manufactures and fabricates steel products for the office furniture industry. The company plans to expand its manufacturing capabilities by enhancing its roll-forming operations, a process that shapes steel into uniform components for high-volume production, while also developing additive manufacturing (3D printing) capabilities and bringing production of roll-form tooling in-house. The project includes investments in computer numerical control (CNC) lathes and other advanced equipment. The $2.4 million capital investment is expected to create 10 jobs incented at a qualifying wage of $24.65 per hour. The board awarded $177,000 in tax credits through the BIG program. 

Webster City Custom Meats to modernize pork processing operations
Webster City Custom Meats - established in 1973 and acquired by Boone-based Midwest Quality Wholesale in 2023 - processes wholesale pork products at its Webster City facility. The company plans to install a new automated bacon packaging line to increase productivity, efficiency and competitiveness through advanced packaging technology. The $2.5 million capital investment is expected to create two maintenance-related jobs incented at a qualifying wage of $25.12 per hour. The board awarded $39,000 in tax credits through the BIG program. 

Awards made to three startups

Founded in Ames, Narrate AR, Inc. - doing business as Ama AI - is developing a personalized artificial intelligence platform to help children with autism and other cognitive differences receive more consistent support across home, school and therapy settings. The platform is designed to reinforce therapy goals, improve communication and provide caregivers and clinicians with insights to better track progress. A $100,000 Demonstration Fund loan will support commercialization efforts by refining the platform for Applied Behavior Analysis providers, improving onboarding and reporting tools, integrating with provider systems, enhancing security and compliance, expanding market outreach and protecting intellectual property as the company prepares for broader adoption.

SoilSerdem, LLC in Ames is developing advanced geospatial software that helps agronomists analyze yield, soil and spatial field data more quickly and accurately, improving decision-making for farmers and agricultural retailers. Designed to integrate with existing precision agriculture platforms, the company's tools streamline workflows while enhancing soil sampling and mapping, and yield analysis. A $100,000 Demonstration Fund loan will support commercialization by expanding market-entry efforts, refining products based on customer feedback, building strategic partnerships, validating new applications in the carbon market and accelerating adoption across the agriculture industry.

University of Iowa spin-off Juggernaut Life Sciences in Coralville is developing a minimally invasive laser-based medical device designed to improve the treatment of early-stage cancers by allowing physicians to target tumors more precisely while reducing damage to surrounding healthy tissue. The platform is intended to make cancer treatment safer and more efficient and has potential applications in melanoma, liver and thyroid cancers. A $50,000 Proof of Commercial Relevance loan will support intellectual property development and evaluation, proof-of-concept work, product refinement and equipment as the company advances the technology toward clinical use.

Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval.

SSBCI funding awarded to three startups

Ames' Skroot Laboratory, Inc. develops sensor technology that allows biomanufacturing companies to monitor cell growth inside sealed bioreactors without disrupting sterile production. The company's Single-use, Metabolite, Absorbing, Resonant Transducer (SMART) sensor platform is designed for use in cell therapy manufacturing and other bioprocessing applications through partnerships with equipment manufacturers. Skroot was awarded a $250,000 Innovation Acceleration Launch Fund loan for proof-of-concept work, product refinement, market planning and entry activities, and key personnel.

Cedar Rapids-based AVEX, Inc. developed Repour, a patented wine preservation topper that removes oxygen from opened bottles to extend freshness without the need for vacuum pumps or other equipment. The technology is used by consumers, restaurants and hospitality businesses to reduce waste and preserve wine quality, including its original aroma, flavor and integrity. The company was awarded a $250,000 Innovation Acceleration Launch Fund loan for market planning and entry activities and key personnel.

SwineTech, Inc. in Cedar Rapids develops PigFlow®, an artificial intelligence-powered operating system that helps pork producers improve daily operations, workforce efficiency and animal care through real-time management and decision support. The platform is used by leading pork producers in the United States and internationally and is expanding to support the full production life cycle. The company was awarded a $500,000 Innovation Acceleration Propel Fund loan for proof-of-concept work, product refinement and market planning and entry activities.

Award recommendations for the SSBCI Innovation Fund assistance are made by the SSBCI Review Committee to the IEDA director for approval. The committee met July 9 to review eligible applications.

Community Attraction and Tourism (CAT) grant awarded to Cedar Rapids nonprofit

The nonprofit organization Horizons was awarded $600,000 to renovate an existing building in downtown Cedar Rapids into the Our Place Senior Recreation Center. The 22,659-square-foot facility will provide intellectual, physical and social opportunities for adults ages 55 and older, including activity rooms, an exercise space, a library, a café, a movie room and a pickleball court. After being without a senior recreation center since the 2008 flood, Cedar Rapids will gain a dedicated space that also encourages engagement with downtown amenities. The total project cost is $3,495,913.

The CAT program provides financial assistance to communities for the construction of recreational, cultural, educational or entertainment facilities that enhance the quality of life in Iowa. Award recommendations for these funds are made by the CAT Review Committee to the IEDA Board for approval.