2 companies granted state funds to move in Iowa

DES MOINES, Iowa (AP) — Two Iowa companies have been given state money to relocate corporate headquarters to other Iowa communities.

In both cases the Iowa Economic Development Authority board approved loans that will not be required to be repaid if the companies complete the projects as promised.

Jacobson Companies, a Des Moines company that provides warehouses and transportation services received approval for a $250,000 forgivable loan from the state to move its corporate offices to Clive. The city will provide $60,000.

The board also has approved funding for Rembrandt Enterprises to move its corporate headquarters and research and development operations from Okoboji to Spirit Lake.

The egg processor plans to renovate a former bank building. It gets a forgivable loan of $105,000, a no-interest five-year loan of $105,000, and $210,000 in tax credits.

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