Posted 22 July, 2026
The Iowa Economic Development Authority (IEDA) Board approved tax credits for four manufacturing companies, which will assist in the creation of 312 jobs and result in $62.9 million in new capital investment for the state. These projects are located in Des Moines, Independence, Wapello and Webster City.
Electrical Power Products to expand Des Moines manufacturing campus
Electrical Power Products (EP²), a Flex company, manufactures engineered-to-order electrical power control and protection systems for utility, power infrastructure and data center customers. To support growing customer demand, the company plans to expand its existing Des Moines campus by approximately 420,000 square feet. The expansion will increase fabrication, assembly and wiring capacity, strengthening its Iowa manufacturing operations and supporting future growth. The $42 million capital investment is expected to create 200 jobs, with 150 incented positions at a qualifying wage of $31.54 per hour. The board awarded $2.01 million in tax credits through the Business Incentives for Growth (BIG) program.
Geater Machining and Manufacturing Co. to grow in Independence
Established in 1962, Geater Machining and Manufacturing Co. provides machining and fabrication services for industries including aerospace and defense, communications, electronics and technology. The company plans a 30,000-square-foot expansion of its Independence facility to increase production capacity by approximately 33% to 40%. The project includes additional manufacturing space, a new visitor entrance with office space and new manufacturing equipment. The $16 million capital investment is expected to create 100 jobs, with 20 incented at a qualifying wage of $24.93 per hour. The board awarded $584,500 in tax credits through the BIG program.
S&J Tube to strengthen manufacturing capabilities in Wapello
S&J Tube in Wapello manufactures and fabricates steel products for the office furniture industry. The company plans to expand its manufacturing capabilities by enhancing its roll-forming operations, a process that shapes steel into uniform components for high-volume production, while also developing additive manufacturing (3D printing) capabilities and bringing production of roll-form tooling in-house. The project includes investments in computer numerical control (CNC) lathes and other advanced equipment. The $2.4 million capital investment is expected to create 10 jobs incented at a qualifying wage of $24.65 per hour. The board awarded $177,000 in tax credits through the BIG program.
Webster City Custom Meats to modernize pork processing operations
Webster City Custom Meats — established in 1973 and acquired by Boone-based Midwest Quality Wholesale in 2023 — processes wholesale pork products at its Webster City facility. The company plans to install a new automated bacon packaging line to increase productivity, efficiency and competitiveness through advanced packaging technology. The $2.5 million capital investment is expected to create two maintenance-related jobs incented at a qualifying wage of $25.12 per hour. The board awarded $39,000 in tax credits through the BIG program.