May 16, 2025 (DES MOINES, IA) – Today, the Iowa Economic Development Authority (IEDA) Board approved awards for two companies, which will assist in the creation of 60 jobs and result in $14.6 million in new capital investment for the state. These projects are located in Boone County and Fort Madison. The board also approved assistance for startups in Ankeny, Eldora, Indianola and Iowa City. In addition, a project in West Liberty received a Community Attraction and Tourism (CAT) grant.
United Equipment Accessories, Inc. to expand to Boone County
United Equipment Accessories, Inc. (UEA) is a family-owned company and one of the largest global manufacturers of slip rings, rotary unions and hose/cable reels. The company is expanding its operations to Boone County to support future growth. UEA plans to purchase a 36,000-square-foot facility and make significant improvements. The project represents a capital investment of just over $4 million and is expected to create 25 jobs, of which 10 are incented at a qualifying wage of $32.47 per hour. The board awarded the company a $95,000 forgivable loan and tax benefits through the High Quality Jobs (HQJ) program.
Minnesota manufacturer to expand into Iowa
Virnig Manufacturing, Inc., headquartered in Minnesota, produces attachments for skid steers, compact tractors, compact wheel loaders, mini skid steers and mini excavators. The company plans to purchase a vacant facility in Fort Madison, make improvements and install new equipment. The project represents a capital investment of just over $10.6 million and was awarded tax benefits through the HQJ program. It is expected to create 35 jobs, of which 32 are incented at a qualifying wage of $21.64 per hour.
Awards made to four startups
Ankeny-based Koos Medical Innovations, LLC patented a disposable isolation gown that ensures a custom fit for every patient to reduce the risk of healthcare-associated infections. The innovative design intends to provide more consistent protection than traditional gowns, limiting the spread of infections and saving hospitals additional treatment costs. The company was awarded a $50,000 Proof of Commercial Relevance (POCR) loan for IP development and evaluation, proof of concept work, product refinement and market planning and entry activities.
Terraform Tillage, LLC in Eldora is an agricultural technology company developing innovative solutions for soil management. Their product, the SmartProbe System, integrates a soil compaction measurement tool into an app that allows farmers and agronomists to access real-time data to make informed decisions about tillage, which can reduce fuel costs and enhance soil health. The company was awarded a $50,000 POCR loan for IP development and evaluation, proof of concept work, product refinement, equipment and market planning and entry activities.
BioAxis, LLC, headquartered in Indianola, focuses on biosecurity for the livestock and meat processing industries. Their technologies work to prevent pathogen threats, including antimicrobial-resistant bacteria, used in production facilities. The company was awarded a $50,000 POCR loan for proof of concept work, product refinement and market planning and entry activities.
Iowa City’s LSF Medical Solutions, LLC developed a solution that empowers lung disease patients to monitor their lung function at home remotely with their physicians, reducing the risk of hospitalization. Pneumero, a handheld medical device, assesses several metrics of lung function that support more informed and quicker treatment decisions. The company was awarded a $50,000 POCR for IP development and evaluation, product refinement and market planning and entry activities.
Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval.
CAT grant awarded in Muscatine County
The Muscatine County Fair and Community Foundation of Greater Muscatine were awarded $422,000 to construct the new Muscatine County Event Center in West Liberty, which will include a great room, board room, offices, kitchen space and more. It is expected to attract between 50,000 and 60,000 attendees over the next three years. The total project cost is over $2.1 million.
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.
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Download a spreadsheet with today's HQJ awards: May 2025 Awards.
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