IEDA?Board approves assistance for six companies, award for a service provider supporting entrepreneurs

Monday, June 27, 2022

June 17, 2022 (DES MOINES, IA) – Today, the Iowa Economic Development Authority (IEDA)?Board approved?awards?for?six Iowa?companies,?which will assist?in the?creation of 640 jobs?and?result in nearly $265 million in new capital investment for the state. These projects are located in Burlington, Cedar Rapids, Davenport, Hampton, Osage and Red Oak. The board also approved a grant through the Entrepreneurial Investment Award program.

Clarios to increase manufacturing capacity in Red Oak

A leader in advanced energy storage solutions, Clarios, LLC develops, manufactures and distributes a portfolio of evolving battery technologies for vehicles. The company plans to increase its footprint in Red Oak by approximately 22,000 square feet for a new manufacturing line. The project represents a capital investment of $23.6 million and is expected to create 13 jobs at a qualifying wage of $21.40 per hour. The board awarded tax benefits through the HQJ program.

Category: Iowa Economic Development Authority