State OKs assistance for Eastern Iowa business projects

State financial assistance was approved Thursday for a number of business expansion projects in Cedar Rapids, Marion and other Eastern Iowa communities.

The Iowa Department of Economic Development Board voted to provide $250,000 in direct financial assistance to American Profol Inc. for a proposed additional production line at its Cedar Rapids plant.

American Profol, 4333 C St. SW, manufactures cast polypropylene films used for adhesive-coated tapes, heat-sealed bags, printed banners, DVD case overlays, multi-layer laminates, automotive and construction films and magazine overwraps. The project would represent a $14 million capital investment to physically expand the plant and purchase machinery and equipment.

American Profol also is considering out-of-state locations for the project. If Iowa is selected, a production line will be added and an existing line and 25 jobs will be retained.

The IDED Board awarded $150,000 to Applied Microwave Technology Inc. of Cedar Rapids, doing business as AmTek. The company at 4115 Thomas Dr. SW is pursuing the development and manufacturing of a microwave vessel system for the food and beverage industry.

AmTek provides products for industrial microwave processing and systems, as well as cables and controls for manufacturers, including wind turbine producers.

People Statements LLC of Cedar Rapids received a $25,000 grant from the IDED Board for marketing and distribution channel expansion, software enhancements and website development. People Statements was formed in June 2010 to market a product called Generally Accepted People Metrics, a software tool for culture assessment that provides a more comprehensive evaluation system than traditional programs.

The IDED Board awarded $150,000 from the Iowa Demonstration Fund to Syncbak Inc. of Marion for development of its Syncbox technology that allows viewers to see their local television broadcasts over the Internet.

Syncbak, formed by former Decisionmark and Titan TV President Jack Perry, reportedly has financial backing from Equity Dynamics Inc., a venture capital firm headed by John Pappajohn.