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Iowa Economic Development Authority Board Meeting Minutes 2026-05-15

Sub-Zero Group Wins Large-Scale Iowa Tax Incentives

Maximum of $7,713,850 Investment Tax Credit and $2,100,000 Sales and Use Tax Refund (shared award with Cedar Rapids Real Estate, LLC)Iowa Arts CouncilSUB-ZERO GROUP INCMay 15, 2026

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Description

The Iowa Economic Development Authority Board awarded Sub-Zero Group, Inc. a share of up to $7,713,850 in Investment Tax Credits and $2,100,000 in Sales and Use Tax Refunds, jointly approved with Cedar Rapids Real Estate, LLC. The incentives support a major project in Cedar Rapids.

Contract Details

Contract Amount

Maximum of $7,713,850 Investment Tax Credit and $2,100,000 Sales and Use Tax Refund (shared award with Cedar Rapids Real Estate, LLC)

Vendor

SUB-ZERO GROUP INC

Agency

Iowa Arts Council, IA

Contract Type

OTHER

Document Date

May 15, 2026

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Related Contracts

Iowa Economic Development Authority AgendaPacket Due Diligence Committee Meeting 2026-06-19

RECOMMENDED
Iowa Arts Council (Iowa)Maximum of $7,713,850 Investment Tax Credit and $2,100,000 Sales and Use Tax Refund (shared with Cedar Rapids Real Estate, LLC)June 19, 2026

Iowa Economic Development Authority AgendaPacket Due Diligence Committee Meeting 2026-05-15

AWARDED
Iowa Arts Council (Iowa)$9,813,850 (tax credits: $7,713,850 Investment Tax Credit; $2,100,000 Sales and Use Tax Refund)May 15, 2026

Iowa Economic Development Authority Board Agenda 2026-05-15

PENDING
Iowa Arts Council (Iowa)May 15, 2026

Iowa Economic Development Authority Due Diligence Committee Meeting Minutes 2026-05-15

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Iowa Arts Council (Iowa)Portion of maximum $7,713,850 in Investment Tax Credit and maximum $2,100,000 in Sales and Use Tax Refund (combined with Cedar Rapids Real Estate, LLC)May 15, 2026

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ONGOING
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