IEDA approves funding for Iowa Bioscience Development Center
Wednesday, October 10, 2018
The Iowa Economic Development Authority board on Friday approved $4.5 million in funding for the creation of the Iowa Bioscience Development Center.
The grant for the Iowa Bioscience Development Center supports implementation of a Biosciences Development Roadmap for the state released in December 2017. The funding of $4.5 million will be distributed over three years for creation of the IBDC, which will bring together partners from research institutions, global companies, entrepreneurs, investors and government to accelerate bioscience sector growth and development in Iowa. Creating the center is one of four strategic goals outlined in the plan. In July, the Iowa Innovation Corp. released a job posting for a president and CEO to develop and lead the center.
The board also awarded direct financial assistance and tax benefits to a specialty pork processor in Sioux County and an Ames agriculture technology company that will assist in the creation of 90 jobs and result in nearly $30 million in new capital investment.