The Iowa Economic Development Authority (IEDA) Board has approved significant funding for projects aimed at boosting manufacturing, recreation, and innovation across the state — including a $65 million expansion in Mount Pleasant, a new sports complex in Keosauqua, and a large-scale bio-manufacturing facility in Boone.
$65 Million Expansion at ContiTech in Mount Pleasant
ContiTech USA, LLC — part of the global Continental AG family — will construct a state-of-the-art compounding center in Mount Pleasant. The new facility will include production, warehouse, and office space, supporting the company’s production of air spring and anti-vibration systems, coated fabrics, conveyor and drive belts, hoses, and more.
The expansion represents a $65 million capital investment and is expected to create 50 new jobs, each with a qualifying wage of $21.50 per hour. To support the project, the IEDA Board awarded ContiTech a $1 million forgivable loan and tax benefits through the High Quality Jobs program.
Recreation Boost for Keosauqua
The City of Keosauqua, in partnership with Engage Keosauqua, Inc., will receive $144,000 from the Community Attraction and Tourism (CAT) program to create a new sports area. The $481,761 project will feature courts for tennis, pickleball, basketball, and bocce ball — revitalizing local recreation and offering new amenities for both residents and visitors.
The CAT program provides funding for projects that enhance the quality of life in Iowa by supporting the construction of recreational, cultural, educational, and entertainment facilities.
This Strategic Infrastructure Program supports large-scale projects that provide competitive advantages for Iowa’s private sector or fill infrastructure gaps that the public and private sectors have not addressed. More information can be found at opportunityiowa.gov.