DES MOINES, Iowa — The Iowa Economic Development Authority Board approved tax credits for two manufacturing companies that will create 98 jobs and bring $57.2 million in new capital investment to the state.
The projects are in Clinton and Waverly. The board also approved Community Attraction and Tourism grants for projects in Forest City and Larchwood, along with Strategic Infrastructure Program grants for three university-led projects.
Archer Daniels Midland Company plans to convert an underutilized 463,503-square-foot fermentation facility at its Clinton complex into a precision fermentation facility. The project includes new processing equipment for separation, purification, drying and packaging, as well as upgrades to existing fermentation equipment, piping and supporting systems to enable large-scale production of proteins and enzymes…