The Iowa Economic Development Authority (IEDA) Board has approved nearly $400 million in new manufacturing investments across five Iowa communities through the Business Incentives for Growth (BIG) program, expected to create 521 jobs. This latest round of awards brings the total investment through the BIG program since January to nearly $775 million, supporting 1,170 jobs statewide.
Governor Kim Reynolds praised the program's effectiveness, saying, "The BIG program is delivering exactly what it was designed to do — helping companies invest, expand and create high-quality jobs across the state." She added that these projects, spanning pharmaceuticals, food production, aerospace materials, and advanced manufacturing, demonstrate confidence in Iowa’s workforce and economic momentum.
Among the approved projects, Sub-Zero Group, Inc. will expand its Cedar Rapids facility with a $196 million investment, creating 312 jobs. Cambrex Charles City, Inc. plans a $150 million expansion to increase pharmaceutical ingredient production, adding 104 jobs. Rosenboom Machine & Tool, Inc. will invest $19.07 million in a new Milford facility, generating 78 jobs.
Additionally, Magna International Inc. will reconfigure its Montezuma facility with a $10.7 million investment for new production lines, creating 27 jobs. Feldmeier Equipment Inc. is set to construct a new $20.8 million manufacturing facility in Butler County to expand production capacity and support future growth. These investments underscore Iowa's commitment to fostering a robust manufacturing sector.