Corridor companies to receive Iowa Economic Development Authority aid
Coralville, Iowa City businesses get financial assistance
The Iowa Economic Development Authority board announced financial assistance for projects located in Coralville and Iowa City on Friday.
The board awarded CIVCO Medical Solutions, a manufacturer of ultrasound guidance devices and infection control products, $100,000 in direct financial assistance — as well as tax benefits for this $1.1 million capital investment — to expand its Multi-Modality Imaging business at its Iowa facilities in Coralville and Kalona.
The company produces products for radiology, regional anesthesia, vascular access, cardiology, surgery and critical care. It is proposing an expansion of its corporate office in Coralville to accommodate future business growth.
The expansion will create 20 jobs, 13 of which are incented at the laborshed wage of $24.19 per hour.
Immortagen Inc., based in Iowa City, a cancer diagnostics company that develops cloud-based precision medicine using a proprietary software platform, received a $100,000 loan from the Demonstration Fund for proof of concept work and key personnel.
Spectator Sports Inc., also in Iowa City, developed an app for booster clubs to manage fundraising and finance practices.
The company received a $50,000 loan from the Demonstration Fund for personnel, market planning and market entry activities and product refinement.