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NewBoCo awarded $100,000 by Iowa Economic Development Authority
Cedar Rapids organization to support programming in Mount Pleasant, Mason City
Cedar Rapids Jefferson High School students work on assignments during a DeltaV class in July 2021. (Rob Merritt/NewBoCo)
The New Bohemian Innovation Collaborative was awarded $100,000 on Friday from the Iowa Economic Development Authority for its Entrepreneurial Investment Awards Program.
NewBoCo was among a half-dozen organizations that received a total of $265 million from IEDA, according to a news release from the state agency.
The 501(c)3 based in Cedar Rapids’ NewBo District was started eight years ago to support entrepreneurship, innovation and technology education.
With the new funding, NewBoCo will launch the Community Partners Pilot Program in Mount Pleasant and Mason City, enabling the organization to “collaborate with each community to fill gaps in their local entrepreneurial ecosystem by combining NewBoCo programming, resources and lessons learned with each local community’s expertise, partnerships and resources.”
The money will be used to hire a community partnership program manager, operate DeltaV software development courses and pay a dedicated local teaching assistant in each community, among other uses.
Each community, the release said, will contribute financially, the release added.
The Iowa Economic Development Authority also on Friday awarded $2.56 million in investment tax credits and sales and use tax credits to Sub-Zero, a Wisconsin-based refrigeration and appliance manufacturer, to build a 400,000 square-foot facility east of Cedar Rapids’ Eastern Iowa Airport.
