Essential Estrogen

Iowa's Economic Development Board provided incentives to five businesses who have their eye on modernization and increased job opportunities.

Gerdau Ameristeel in Wilton, BiOva LLC in Malcom, Beneficial Technologies LLC in DeWitt and Quaker Oats in Cedar Rapids received awards based on proposals for increased productivity. Air Control Incorporated is planning a new facility in Clinton and also received an award.

“Our state continues to see growth in advanced manufacturing and new technology,” said Mike Tramontina, director of the Iowa Department of Economic Development. “More and more companies are recognizing Iowa’s advantages in skilled workforce and quality of life and are choosing to locate here.”

The state is partnering with Gerdau Ameristeel’s Wilton steel mill as it competes for up to $65 million in corporate funding for equipment upgrades designed to increase production at the plant. Gerdau was awarded $1 million from the Community Economic Betterment Account and tax benefits from the High Quality Jobs Creation program. The award is based on retention of a minimum of 240 jobs, with 169 qualified jobs at an average wage of $19.83 per hour.

The company had previously qualified for retraining assistance of $3.1 million from the Iowa Jobs Training Program. Gerdau Ameristeel is the second largest mini mill steel producer and steel recycler in North America with 19 steel mills in the U.S. and Canada.

BiOva, whose technology was developed at the Iowa State University Research Park, is investing more than $1.5 million in an egg shell processing facility in Malcom which will create 20 jobs, three of which pay an average wage of $32.05 per hour. The company was awarded $80,000 from the Economic Development Set-Aside program and tax benefits from the High Quality Jobs Creation program. BiOva's patented process extracts a high grade of calcium and other products from egg shells and membranes on an industrial scale. The value-added derivatives will be used by other companies as ingredients in cosmetics, pharmaceuticals and health foods.

With the increasing demand for tanks for the ethanol industry, Air Control is planning to construct an 18,000 sq. ft. building to house an expansion of metal fabricating operations in Clinton. The company was awarded $50,000 from the Economic Development Set-Aside program and tax benefits from the High Quality Jobs Creation program. Air Control is creating 14 jobs paying an average wage of $15.36 per hour and making a capital investment of more than $1 million.

Beneficial Technologies was awarded Enterprise Zone tax benefits to expand production of dried lime products near DeWitt, a $2.2 million investment that creates 11 jobs with wages exceeding the program requirement. The lime will be used by ADM’s planned Clinton Electric Cogeneration Plant for environmental control measures.

Quaker Oats is proposing a more than $16 million expansion of oat milling capacity in Cedar Rapids. Enterprise Zone tax benefits were awarded to the project which creates 11 jobs paying an average wage of $24.44 per hour.

“Iowa’s economy is strong and these projects will make our state even stronger,” Gov. Chet Culver said in a prepared release. “We are working hard every day to aggressively recruit companies to locate and expand in Iowa, creating high-quality careers for Iowa families.”