DES MOINES, Iowa — The Iowa Economic Development Board has approved nearly $10 million in financial incentives for five companies promising to create 436 jobs.
The board on Friday awarded TPI Composites in Newton $1.6 million to create 351 jobs. The company leases space in the former Maytag factory to make wind turbine blades. It plans to rent additional space to make bodies for electric powered passenger buses.
The board also approved $1.5 million for Riverdale aluminum manufacturer Arconic Inc. to support a $160 million expansion creating 30 jobs.
John Deere received $2.9 million for a project in Urbandale to set up a new software and hardware technologies business to help farmers improve yields, creating 31 new jobs.
Other projects funded included a Swisher whiskey distillery and a Fort Dodge livestock feed additive maker.