Iowa’s bioscience sector is anything but one note.
The diversity of the state’s bioscience industry, paired with forward-thinking incentives and a talented workforce, deliver the tools bioscience companies need to thrive. Jessica Hyland, executive director of the Iowa Biotechnology Association, shares her perspective on the powerful momentum companies can tap into in Iowa.
While Iowa is known for its leadership in agricultural feedstocks and industrial biosciences, it’s also home to immunotherapy, vaccines and pharma. The breadth of our bioscience industry provides ample opportunities for “cross pollination” that drives shared ideas, new approaches and impressive breakthroughs. Iowa filed 2,400 bioscience-related patents from 2019-2023, and more than 1,400 patents were awarded for novel plant types.
When it comes to economic development measures to support bioscience companies of all stages, Iowa checks all the boxes…
- SBIR/STTR America’s Seed Fund Matching Grants
- Seed Investor Tax Credits
- Manufacturing Sales and Use Tax Exemption
- R&D Tax Credits
In the last five years, Iowa attracted $440 million in ag-focused venture capital funding. Plus, we were the first in the nation to launch a Renewable Chemical Production Tax Credit and now also offer a Sustainable Aviation Fuel Production Tax Credit. It’s this kind of innovative, aggressive approach to economic development that translates to long-term growth and success, generating high-skill jobs and impressive quality of life.
Speaking of growth – Iowa’s bioscience industry employment increased more than 7% from 2019 to 2023. We are 23% more concentrated in industry employment than the national average. There are four times more plant scientists and five times more ag technicians in Iowa compared to Indiana.
So, not only do we have the workforce, but we have the right workforce who are ready to think big and solve real challenges.
We think all these impressive factors are pretty groundbreaking, and they are – literally. Last year alone, Iowa welcomed major projects, openings and investments in our outstanding bioeconomy. Some highlights? The $40 million BioMADE biomanufacturing facility in Ames, Chevron’s Ames Technology Center, and a $300 million Cargill-HELM Qore BDO production facility in Eddyville, to name a few.
When you consider all the factors, Iowa has the best environment for bioscience companies to thrive. Join us in encouraging Corteva leadership to “Plant the HQ Here” by signing this petition.
