IEDA Board approves assistance for two manufacturers, three startups, two quality-of-life projects and amended reinvestment district plans

March 20, 2026 (DES MOINES, IA) - Today, the Iowa Economic Development Authority (IEDA) Board approved assistance for two manufacturing companies, which will assist in the creation of 26 jobs and result in $5.38 million in new capital investment for the state. These projects are located in Adel and Waverly. The board also approved assistance for startups in Ames, Des Moines and West Des Moines, while projects in Spencer and Webster City received awards through the Community Attraction and Tourism (CAT) program. In addition, reinvestment districts in Des Moines and Fort Dodge received approval for amended plans.

Refreshments Manufacturers of Iowa to establish beverage production facility in Adel

Refreshments Manufacturers of Iowa is a startup company focused on producing ready-to-drink canned cocktails and premium nonalcoholic mocktails for regional and national distribution. The company plans to acquire a 4.57-acre site in Adel and construct a 10,000-square-foot manufacturing facility where beverages will be mixed, canned and packaged under the brand Offline Cocktails. The $3.82 million capital investment is expected to create eight jobs, with three incented at a qualifying wage of $35.54 per hour. The board awarded $121,162 in tax credits through the Business Incentives for Growth (BIG) program.

United Equipment Accessories Inc. to expand operations in Waverly

Founded in 1952, United Equipment Accessories Inc. is a family-owned manufacturer of slip rings, rotary unions and hose and cable reels for industrial applications. The company plans to purchase a 33,400-square-foot industrial facility in Waverly and invest in site improvements, equipment relocation, new production equipment and assembly and test automation to support future growth. The $1.56 million capital investment is expected to create 18 jobs, including four incented at a qualifying wage of $28.52 per hour. The board awarded $32,310 in tax credits through the BIG program.

Awards made to three startups

Ames-based CodeValid, LLC created an AI-based system that automates functionality testing for software development teams to navigate increasingly complex code. By connecting business requirements to the underlying software code, the platform automatically writes and executes functional tests for new code changes, validating that features behave as expected and identifying bugs or regressions early. This reduces the need for teams to manually verify application behavior and significantly shortens the time spent on testing during the development process. The company was awarded a $50,000 Proof of Commercial Relevance (POCR) loan for IP development and evaluation, key personnel, product refinement, equipment and market planning and entry activities.

SureHost, LLC, a software company headquartered in Des Moines, focuses on supporting short-term rental hosts. The platform helps hosts to define property standards and confirm readiness prior to guest arrival, improving consistency and operational visibility across properties. The company was awarded a $50,000 POCR loan for IP development and evaluation, proof of concept work, product refinement and market planning and entry activities.

Blueprint, LLC, based in West Des Moines, is a healthcare technology company that develops software to help navigators, caregivers and patients collaborate on the care journey. The company was awarded a $50,000 POCR loan for proof of concept work, product refinement and market planning and entry activities.

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

CAT grants awarded to two projects

The City of Spencer was awarded $224,000 to construct a new splash pad at Riverview Park adjacent to the city's aquatic center. The project will include interactive water play features and pedestrian improvements to create a family-friendly recreation area within the park. Located near commercial districts and community gathering spaces, the splash pad will increase park use while supporting nearby restaurants, retail and service businesses. Total project cost is $1,122,158.

Local Initiative For Transformation, Webster City (LIFT WC) was awarded $104,926 for the Elks Ballroom project to finish the upper-level ballroom in the long-vacant historic Elks building in downtown Webster City. The project is the final phase of a seven-year, $3 million rehabilitation that included structural stabilization, exterior improvements, installation of an elevator and renovation of the main floor, which will house Wildcat Distilling Co. The ballroom is expected to host weddings, community events, meetings, live entertainment and nonprofit gatherings. Total project cost is $430,926.

The CAT program provides financial assistance to communities for the construction of recreational, cultural, educational or entertainment facilities that enhance the quality of life in Iowa. Award recommendations for these funds are made by the CAT Review Committee to the IEDA Board for approval.

Des Moines and Fort Dodge amended reinvestment district plans receive approval

Last year, the Iowa Legislature increased the total number of acres allowed in Iowa Reinvestment Districts approved after July 2020 from 75 to 125. IEDA opened a filing window for all existing eligible districts to apply for an expanded district and additional funds (that were not formally awarded). The City of Des Moines and City of Fort Dodge submitted amended district plans.

On October 18, 2024, the City of Des Moines was approved for a maximum benefit amount of $23.5 million for the Capital City Reinvestment District - which includes the Stadium Neighborhood, Western Gateway and Gray's Landing - with a commencement date established as January 1, 2028. The city proposed expanding the boundary approximately 50 acres south of East Village in the Market District. The amendment includes mixed-use development with retail, office, hospitality and housing opportunities. The board approved the amended Capital City Reinvestment District plan for an additional maximum benefit amount of $9.5 million, increasing the total maximum benefit amount in the district to $33 million. The projects within the expanded reinvestment district area represent a $289.2 million investment.

On April 22, 2022, the City of Fort Dodge was approved for a maximum benefit amount of $17 million for the Corridor Plaza Reinvestment District with a commencement date of July 1, 2023. The city plans to expand the boundary to include portions of the Central Village and Central River districts, connected by the 1.5-mile Cross-town Connector. The amendment includes downtown building rehabilitations and new mixed-use housing, public improvements and streetscape enhancements, hotel renovations and a new riverfront restaurant. Today, the amended Corridor Plaza Reinvestment District plan was approved for the additional maximum benefit amount of $3.5 million, increasing the total maximum benefit amount in the district to $20.5 million. The projects within the expanded district represent a $41.3 million investment.

The Iowa Reinvestment District Program is designed to assist communities in developing transformative projects that improve the quality of life, create and enhance unique opportunities, and substantially benefit the community, region and state. The program provides for up to $100 million in new state hotel/motel and sales tax revenues to be "reinvested" within approved districts in an Urban Renewal Area.

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Download a spreadsheet with today's BIG awards (215.46 KB) .pdf .