Iowa board OKs financial aid to business projects

Published On: Dec 28 2012 10:14:48 AM CST

Three business projects that the state says will help create nearly 100 jobs have been approved by the Iowa Economic Development Authority Board.

The board approved the projects during a telephonic meeting Thursday.

The board granted a $200,000 low-interest loan to help Simonsen Iron Works expand its fabrication plant in Spencer.

Tax benefits were approved for Hydrite Chemical Co. to expand its Waterloo plant.

And the board approved $500,000 in direct financial aid as well as tax benefits for Submittal Exchange to create 91 more jobs at its West Des Moines facility. The company provides web-based software for the commercial construction industry.