Business Report: Iowa – BIVI Plans $110-Million Expansion of IA Biotech Facilities
Posted on: April 1st, 2015
By Jonathan Sanders
From the January/February 2015 issue
Boehringer Ingelheim Vetmedica, Inc. (BIVI) recently announced more than $110 million of capital investments in its facilities in Fort Dodge and Ames over the next four years.
BIVI is a subsidiary of Boehringer Ingelheim Corporation and a member of the Boehringer Ingelheim group of companies. BIVI is a world leader in developing, manufacturing and marketing an extensive line of biological and pharmaceutical products for its core segments: cattle, swine, horses and pets.
“BIVI has been a great Iowa partner,” said Iowa Gov. Terry Branstad. “During a recent investment mission in Europe, we had the opportunity to talk with BIVI about expanding its presence in Iowa, and [now] that comes to fruition. These investments in Ames and Ft. Dodge will position BIVI for future growth in our state.”
Economic development financial assistance packages from the Iowa Economic Development Authority as well as local entities helped secure both Fort Dodge and Ames expansions. The financial assistance packages include tax credits from the High Quality Jobs program for a combined qualifying investment of nearly $98 million.
“These investments in our Fort Dodge and Ames locations support and fuel the research, development and manufacturing of solutions that prevent and treat global animal health challenges,” said Albrecht Kissel, President and CEO of Boehringer Ingelheim Vetmedica, Inc.
In Fort Dodge, BIVI is planning to expand capacity and modernize operations. These plans include: enhancements to its freeze drying capacity with the addition of a new line and a separate high speed fill and freeze dry suite; improvements to aging systems, equipment and other plant assets; and the construction of a new Veterinary Research Center (VRC).
BIVI has also announced a strategic investment for its operations in Ames. Following BIVI’s acquisition of NOBL Laboratories Ames operation in 1999, its research efforts in Ames grew with successful collaboration from Iowa State University (ISU). This expansion project includes a new build-to-suit 52,088 square foot building facility on the ISU Research Park. The larger facility will allow the company to expand efforts in all five target species (swine, equine, cattle, companion animals and poultry), continue to research other diseases with an unmet therapeutic need for larger livestock and enhance privacy and security.
SMALL BUSINESS CREDITS GRANTED
The U.S. Treasury Department has announced that Iowa has received $4,373,909 in State Small Business Credit Initiative (SSBCI) funds to help small businesses access the capital they need to grow and create jobs. To date, $13,065,020 in SSBCI funds have been disbursed to the Iowa Economic Development Authority to support businesses and the local economy.
“The SSBCI program has helped us to elevate our assistance to Iowa’s entrepreneurs through the Iowa Innovation Acceleration Fund, The funds are designed to support commercializing research, launching new start-ups and accelerating private investment and industrial expansion efforts that result in significant capital investment,” said Debi Durham, Director of the Iowa Economic Development Authority (IEDA). “Over the past two years, thanks to the SSBCI funds, we’ve been able to support the work of 23 small businesses that are innovating at the highest levels.”
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Boehringer Ingelheim Vetmedica, Inc. (BIVI) makes a major capital investment in its animal health facilities in Fort Dodge and Ames.
Business Report: Iowa – BIVI Plans $110-Million Expansion of IA Biotech Facilities was published on at and updated at .