Economic Development Board approves awards to support over $43 million in capital investments in Iowa

May 20, 2016 (DES MOINES, IA) – The Iowa Economic Development Authority (IEDA) board today awarded direct financial assistance and tax benefits to eight companies for job creation and expansion projects. These awards will assist in the creation of 1,275 jobs, retention of 53 jobs and will result in over $43 million in new capital investment for the state. The board also approved innovation funding for six startups.

The board approved assistance for planned or proposed projects located in Cedar Falls, Davenport, Des Moines, Dubuque, Fairfield, Iowa City, Keokuk, Sheldon and Waukee.

Read the entire list by visiting: http://www.iowaeconomicdevelopment.com/News

 

Downtown to get more than 1,000 high-tech jobs in major lease and construction deal for Des Moines

BY KENT DARR Business Record | Senior Staff Writer | @KentDarr

Cognizant Technology Solutions Corp., a multinational corporation that is based in New Jersey with a presence in Des Moines, plans to hire more than 1,000 people and occupy office space in Two Ruan Center as well as build two office building in the Gray’s Landing development.

The company, one of the leading STEM recruiters in the United States, currently employs slightly more than 400 people in Des Moines who work out of two office buildings downtown.

According to an application for state of Iowa high-quality-jobs tax credits, the company will spend more than $14 million to lease 50,000 square feet of office space in Two Ruan Center and to lease two 54,000-square-foot built-to-suit office buildings. The costs also include expenses for remodeling and computer hardware.

The Iowa Economic Development Authority board will consider a forgivable loan of $812,000 when it meets Friday as well as a rebate of sales taxes on construction materials.

The city of Des Moines also is working out the details of an incentive package that includes tax increment financing for the Gray’s Landing office building project.

Continue reading about the affect the company’s decision is likely to have in Des Moines. Full Insider story >>>

Economic Development Board approves awards to support over $89 million in capital investments in Iowa

On April 22nd, The Iowa Economic Development Authority (IEDA) board awarded direct financial assistance and tax benefits to nine companies for job creation and expansion projects. These awards will assist in the creation of 349 jobs and will result in over $89 million in new capital investment for the state. The board also approved innovation funding for seven startups.
 
The board approved assistance for planned or proposed projects located in Altoona, Ankeny, Coralville, Davenport, Des Moines, Dubuque, Elkader, Iowa City, Johnston, Knoxville, Mt. Pleasant, New Sharon, St. Ansgar and Waterloo.

For a complete list of investments visit: http://www.iowaeconomicdevelopment.com/newsdetails/6332

 

New Iowa startup investment fund on the horizon

, mpatane@dmreg.com 1:57 p.m. CST February 24, 2016 Des Moines Register

Matt BusickMatt Busick (Photo: Special to the Register)

A new fund that would invest in Iowa startups is in the works after receiving certification from the state.

River Glen Venture Partners aims to raise a pool of $25 million it would invest in early-stage companies, fund founder Matt Busick said.

“We think that’s the right number to build a portfolio over four to five years of 10 (startups) of between $2 and $2.5 million each” in investment, Busick told the Register.

Busick is also managing director of River Glen Private Capital, a West Des Moines-based investment firm and manager.

The Iowa Economic Development Authority certified River Glen Venture Partners as an “innovation fund” on Friday. The certification means investors in the fund can receive tax credits based on the amount they invest in Iowa startups.

River Glen Venture Partners is still in its infancy, and Busick said it has yet to raise the $25 million. Before doing so, he said River Glen wanted to ensure the fund would be certified to receive state tax credits.

Read the entire story at: www.http://www.desmoinesregister.com/story/tech/2016/02/23/new-iowa-startup-investment-fund-horizon/80577506/

 

Event Preview: 2016 Economic Forecast Luncheon

 

BY CHRIS CONETZKEY | Editor Business Record| @ChrisConetzkey

Oil. China. Agricultural prices dropping. Interest rates rising. Yes, the beginning of 2016 is off to a bit of a rocky start, as U.S. markets had their worst initial week of a new year in market history. So what does the future hold here in the United States, in Iowa and for your business? In advance of our Jan. 28 Economic Forecast Luncheon, we wanted to get our panelists’ thoughts on the economy in 2016. I’m excited to moderate this year’s event, and look forward to seeing you all there.

What is the most important thing businesses should know about the economy in 2016?

I remain optimistic about Iowa’s economy for 2016, but I would caution that we’ll not see as much activity as we’ve seen over the past few years. Continue reading Debi Durham’s response >>>

Statewide, Iowa’s economy looks sound. Jobs and population are growing, and there is much new investment. But state averages mask detail. Continue reading Dave Swenson’s response >>>

Date & Time: Thursday, Jan. 28 – 11 a.m. to 1 p.m.
Location: Sheraton West Des Moines Hotel
Register: businessrecord.com/events

Moderator: Chris Conetzkey – Editor, Business Record
Panelists:

Dan Houston – President and CEO, Principal Financial Group Inc.

Debi Durham – Director, Iowa Economic Development Authority

Jim Paulsen – Chief investment strategist, Wells Capital Management 

Dave Swenson – Associate scientist of economics, Iowa State University

More more information visit: http://www.BusinessRecord.com

#innovationIOWA Midwest Energy News honors 2 young energy leaders

Midwest Energy News honors 2 young energy leaders

Midwest Energy News website has named two Iowans among its 40 Under 40 list highlighting emerging leaders’ work to accelerate the transition to a clean-energy economy. Paritosh Kasotia is the founder and CEO of the nonprofit Unfolding Energy. Previously she led the energy office of the Iowa Economic Development Authority and serves on the board of the Iowa Renewable Energy Association. Dwight Stewart, founder and president of Igor, focuses on building disruptive software and technology innovations for the clean-energy industry. Igor is focused on developing tools to provide intelligent automation of LED light fixtures.

#innovationIOWA Iowa energy plan announced

PELLA, IOWA – The Iowa Partnership for Economic Progress (IPEP) meeting was held at Pella Corporation to kick off the Iowa Energy Plan. The initiative, chaired by Lt. Governor Kim Reynolds and Pat Meyer, CEO of Pella Corp., is a means to set state priorities and provide strategic guidance for a statewide plan that assesses current and future energy supply and demand, examines energy policies and programs and identifies emerging challenges and opportunities.

“Iowa is a leader in biofuels and renewable energy,” said Lt. Governor Reynolds. “That leadership was achieved because of thoughtful planning. Creating a statewide energy plan will keep Iowa at the forefront of energy policy and allow our state to develop a path toward the future.”

The statewide energy plan will be built on four foundational pillars: Economic Development and Energy Careers, Iowa’s Energy Resources, Transportation and Infrastructure and Energy Efficiency and Conservation. Working groups will be formed around these areas to provide input, review data and help shape the goals and strategies of the energy plan. Applications for the working groups are being accepted now at http://www.iowaenergyplan.org. In addition, five energy forums will be conducted across the state to facilitate public input for the Iowa Energy Plan.

Read more about the plan at http://www.iowaenergyplan.org