Business

Iowa Economic Development Authority gives financial awards to three Corridor companies

Bio Springer North America, Worley Warehousing and INSEER named Friday

A worker puts a pallet of inventory on a high rack shelf at Worley Warehousing. (Jim Slosiarek/The Gazette)
A worker puts a pallet of inventory on a high rack shelf at Worley Warehousing. (Jim Slosiarek/The Gazette)

The Iowa Economic Development Authority approved awards for three companies in the Corridor on Friday.

• Bio Springer North America, a designer, manufacturer and marketer for the baking, food, health care and biotechnology industries, obtained tax benefits through IEDA’s High Quality Jobs program.

Through its expansion of its yeast production capacities in Cedar Rapids, it should generate $29 million in new capital investment, the IEDA said in a Friday news release. Bio Springer said it would create five jobs at $22.27 an hour.

• Worley Warehousing, a Cedar Rapids-based third-party logistics company that specializes in food-grade warehousing, will lease a build-to-suit 250,000-square-foot facility — with the potential to add 100,000 square feet — near The Eastern Iowa Airport. This award also was through the High Quality Jobs program.

The company is expected to create 18 jobs, three of which are indented at $22.27 an hour. The project will result in 18 jobs. (More details can be seen on page 1F in this Sunday’s Business 380.)

• INSEER in Iowa City, founded in 2018 to develop software to predict and mitigate workplace injuries, was awarded $100,000 from the Demonstration Fund.

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