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IEDA Board approves assistance for four established companies and five startups in Iowa

Today, the Iowa Economic Development Authority (IEDA) Board approved awards for four companies, which will assist in the creation of 226 jobs and result in nearly $45 million in new capital investment for the state. These projects are located in Eldridge, Nevada, Osage and Story City. The board also approved innovation funding in support of five startups located in Ames, Cedar Rapids, Denison and Slater. Earlier this week, IEDA approved assistance from Iowa’s State Small Business Credit Initiative (SSBCI) for an innovation startup in Coralville.

Slater’s GW Nutrition, Inc. developed technology to improve the acceptance of food ingredients. The patent pending CleanSenseTM technology uses a proprietary light delivery system to reduce microbial contamination while also moderating the sensory characteristics (i.e., color, flavor and odor) of alternative proteins. The company was awarded a $50,000 POCR loan for proof of concept work, product refinement, key personnel, equipment and market planning and entry activities.

Award recommendations for these funds are made by the Technology Commercialization Committee to the IEDA Board for approval.