IEDA Board approves assistance for an established company, awards funding for butchery innovation and revitalization

The Iowa Economic Development Authority (IEDA) Board approved an award to a $5 million biomanufacturing project in Boone County. The board also approved Butchery Innovation and Revitalization program awards.

Mg Biologics to expand operations in Boone County
Mg Biologics, a biopharmaceutical company, manufactures and distributes proprietary animal treatments, including plasma, antibody products and antivenom. The company plans to expand in Boone County with the construction of two facilities and the acquisition of more than 80 acres of land. The project represents a capital investment of $5 million and is expected to create eight jobs incented at a qualifying wage of $31.27 per hour. The board awarded tax benefits through the High Quality Jobs (HQJ) program.

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