Arconic and Vermeer corporations drive over $230M in new manufacturing investments
February 20, 2026 (DES MOINES, IA) — Today, the Iowa Economic Development Authority (IEDA) Board approved awards for five companies, which will assist in the creation of 536 jobs and result in $268.2 million in new capital investment for the state. These projects are located in Bettendorf, Bondurant, Hiawatha, Vinton and Waverly.
Today’s approvals mark the first awards through the state’s Business Incentives for Growth (BIG) program, which launched last month. BIG supports capital investment and quality job creation projects that strengthen Iowa’s economic competitiveness via tax benefits.
Projects in the communities of Farley, Inwood and Lohrville also received awards through the Community Attraction and Tourism (CAT) program. In addition, IEDA recently approved assistance from Iowa’s State Small Business Credit Initiative (SSBCI) Innovation Fund for a startup in Slater.
Arconic Corp. to construct new casting complex in Bettendorf
Headquartered in Pittsburgh, Arconic Corp. produces aluminum products for commercial aircraft, space vehicles, defense systems and automotive markets. The company will build a new aluminum casting complex at its Davenport Works facility in Riverdale/Bettendorf, increasing its capacity to process and recycle aluminum into ingots used to make sheet and plate products. A new saw will improve efficiency and safety. The $131 million capital investment is expected to create 40 jobs incented at a qualifying wage of $28.46 per hour. The board awarded $6.55 million in tax credits through the BIG program.
Vermeer Corp. to build new production facility in Bondurant
Vermeer Corp., based in Pella, is a family-owned manufacturer of agricultural and industrial equipment serving customers in more than 100 countries. To meet growing demand, the company will develop a 300,000-square-foot production facility in Bondurant, including 12,000 square feet of office space, parking and shipping and receiving areas. The $102.7 million capital investment is expected to create 182 jobs, including 62 incented at a qualifying wage of $35.11 per hour. The board awarded $5.1 million in tax credits through the BIG program.
CCB Packaging to add automated production line in Hiawatha
CCB Packaging in Hiawatha provides packaging services for food and pharmaceutical companies. The company will build a 65,000-square-foot addition and install a new automated production line to modernize and expand its operations. The $13.3 million capital investment is expected to create nine jobs, including six incented at a qualifying wage of $30.41 per hour. The board awarded $343,497 in tax credits through the BIG program.
Sewer Equipment Company of America to establish fabrication operations in Vinton
Sewer Equipment Company of America manufactures sewer cleaning and vacuum equipment for municipal and contractor markets. The company will purchase an existing facility in Vinton to bring all fabrication operations to Iowa, with components shipped to its Illinois plant for final assembly and testing. The $3 million capital investment is expected to create 30 jobs, of which 22 are incented at a qualifying wage of $24.18. The board awarded $84,375 in tax credits through the BIG program.
Revolution Concrete Mixers to launch manufacturing operations in Waverly
LMI US, LLC, doing business as Revolution Concrete Mixers, is headquartered in Minnesota and manufactures rear-discharge concrete mixers with advanced digital and connected systems. The company will purchase an existing facility in Waverly and install approximately $8 million in equipment to establish new production and assembly operations. The $18.2 million capital investment is expected to create 275 jobs, including 25 incented at a qualifying wage of $28.52 per hour. The board awarded the company $660,000 in tax credits through the BIG program.
CAT grants awarded to three projects
The City of Farley was awarded $197,000 for the Farley Library and Community Center project to renovate a 6,580-square-foot building into a permanent library and multipurpose community space. Located adjacent to Westside Park, the project will triple the library’s size, add a community center for approximately 100 people and include paved parking improvements. The new facility will support business startups and remote workers by providing access to meeting space and business services. Total project cost is $863,708.
The City of Inwood was awarded $1 million for the Inwood Community Center project to construct an approximately 19,000-square-foot facility featuring a full-size gymnasium for basketball, volleyball and pickleball, an all-access fitness center, meeting space, a commercial kitchen and a public library. The center will help retain families and attract regional visitors by offering year-round indoor activities and space for large gatherings like family reunions, wedding receptions and holiday celebrations. The total project cost is $5,793,116.
The City of Lohrville was awarded $53,000 for the Lohrville Spray Pad project to build a 1,550-square-foot spray pad at Lohrville City Park. The project will include approximately 20 interactive water features for multiple age groups and abilities, supported by a recirculation system to collect, treat and reuse water. As the first spray pad in Calhoun County, it will expand recreational access and enhance regional quality of life. The total project cost is $178,897.
The CAT program provides financial assistance to communities for the construction of recreational, cultural, educational or entertainment facilities that enhance quality of life in Iowa. Award recommendations for these funds are made by the CAT Review Committee to the IEDA Board for approval.
SSBCI funding awarded to Slater startup this month
Gross-Wen Technologies, Inc., headquartered in Slater, provides a patented algae biofilm treatment system under the RAB™ brand that uses algae to sustainably remove nitrogen and phosphorous from wastewater. The technology can also be used with clean water to grow valuable algae for products such as fertilizers, bioplastics and biofuels. The company was awarded a $1 million Innovation Acceleration Expansion Fund loan to hire key staff and expand its market efforts.
Award recommendations for the SSBCI Innovation Fund assistance are made by the SSBCI Review Committee to the IEDA director for approval. The committee met January 28 to review eligible applications.
Download a spreadsheet with today’s BIG awards.
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