Iowa Economic Development Authority board awarded direct financial assistance and tax benefits to five companies for job creation and expansion projects in Cedar Rapids, Charles City, Grimes, Marion,and Waterloo.

Awards will assist in the creation of 62 jobs and will result in over $48 million in new capital investment for the state. The board also approved awards for strategic infrastructure, entrepreneurial assistance and a reinvestment district project.

Companies approved for financial incentives included;

Cambrex Charles City, Inc., a company that manufactures Active Pharmaceutical Ingredients and pharmaceutical intermediates for both generic and branded human pharmaceutical markets, is planning a $27 million expansion project to increase manufacturing capacity at its facility in Charles City, Iowa. The board awarded Cambrex $125,000 in direct financial assistance as well as tax benefits via the High Quality Jobs (HQJ) program.

Crystal Distribution Services, Inc., a company that provides temperature-controlled warehouse and repackaging services to food processing companies, plans to construct a new 50,000 square-foot freezer space in Waterloo, Iowa. The project has a capital investment of $5.5 million. The board awarded this project tax benefits via HQJ.

Farmers Edge, a global leader in decision agriculture that gives growers the data needed to make informed decisions on the farm, plans to develop a testing laboratory in Grimes, Iowa. The board awarded Farmers Edge tax benefits via HQJ to construct a soil testing laboratory in Grimes to serve Farmers Edge U.S. operations. The project has a capital investment of $2.2 million.

Highway Equipment Company, a company that manufactures deicing spreaders and road maintenance equipment, along with agricultural equipment, will expand the research and development capabilities in Cedar Rapids. The project has a capital investment of $1.35 million. The board awarded the project tax benefits via HQJ for this expansion.

Weems Industries, Inc., d/b/a Legacy Manufacturing Co., offering a wide-range of professional grade service and maintenance equipment for automotive, industrial, contractor, agricultural and marine markets, is proposing to build a 200,000 square-foot expansion of its current facility in Marion. The board awarded the project tax benefits via HQJ for this $12 million expansion.