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Iowa Governor touts economic development fund

DES MOINES, Iowa (AP) - Gov. Terry Branstad says a state economic development fund is helping boost technology startup firms in Iowa.

Branstad on Monday released a study on the activities of the Demonstration Fund, which is managed by the Iowa Economic Development Authority. The fund was started in 2007 and offers funding to help grow manufacturing, science and information technology firms.

The study says that between 2007 and 2012 the fund has provided about $13 million to 101 firms still in existence. The 79 firms that responded to surveys for the report said they had added about 600 jobs and grown revenue.

Branstad calls the results "impressive" and says Iowa must continue to "grow its own high tech information companies."

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